Insiders at B. Riley have signaled confidence in their investment bank in the wake of the SVB crisis, scooping up more than $2.6 million in stock in aggregate.
Executives and other insiders at B. Riley Financial Inc. have signaled confidence in their business in the wake of the Silicon Valley Bank crisis, scooping up more than $2.6 million in stock in aggregate.
Amid pressure on banking names, six B. Riley RILY insiders made substantial stock purchases between March 10 and March 17, according to recent filings with the Securities and Exchange Commission. Shares of B. Riley, an investment bank, have lost about a quarter of their value since the close of trading on March 8, just before the extent of Silicon Valley Bank’s troubles became public.
Riley had also purchased $770,073 worth of stock on March 7, before the SVB crisis fueled a selloff in banking shares.Robert Antin, who sits on the company’s board of directors, was also an aggressive recent purchaser of B. Riley shares. He bought 3,000 shares at an average price of $31.97 on March 16 and purchased 15,000 more shares at an average price of $29.8659 on March 17. He paid $543,899 in aggregate across the two sessions.
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