As an issuer of a number of baby bonds B Riley (NASDAQ:RILY) is always of interest to us and as such we wanted to pass along the latest forecast from the company for those that may have an interest.
The new forecast from B Riley raises their projected net income from $14.3 to $15.3 million from a previous projection of $5.4 to $10 million. This is one hell of a jump and the common shares have jumped by more than a $1/share which we believe is an all time high.
We have been a bit cautious on B Riley as they are moving into businesses not related to financial services such as the recently announced purchase of voice over internet phone company magicJack. Additionally the company is in the business of helping failed retailers (or their creditors) liquidate inventories such as BonTon which recently filed for liquidation.
Obviously with this latest news of raised expectations the baby bonds are in super good standing.