Value Investor
Start free

Heritage Global

HGBL on Nasdaq. Market value $45m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

We have not checked this company yet

This is not advice.

Compare with another stock

Who owns it

None of the long-term investors we follow own it. 36 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 4 insiders bought $530,055 of shares on the open market. 2 sold $440,151, $41,151 of it under preset trading plans.

Cluster buy3 insiders bought within 30 days (17 August 2026 to 20 August 2026).
  • Sklar James Edward
    EVP, Gen Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    1 October 2026
    Shares
    2,500
    Price
    $1.27
    Value
    $3,175
  • DOVE ROSS
    CEO, Director
    Sold
    Date
    25 September 2026
    Shares
    300,000
    Price
    $1.33
    Value
    $399,000
  • Burnham William L
    Director
    Bought
    Date
    25 September 2026
    Shares
    300,000
    Price
    $1.33
    Value
    $399,000
  • Sklar James Edward
    EVP, Gen Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    1 September 2026
    Shares
    2,500
    Price
    $1.27
    Value
    $3,175
  • COBB BRIAN J.
    CFO
    Bought
    Date
    20 August 2026
    Shares
    20,000
    Price
    $1.10
    Value
    $22,000
  • Hounsell Bruce Kenneth
    President, Heritage DebtX LLC
    Bought
    Date
    17 August 2026
    Shares
    10,000
    Price
    $1.14
    Value
    $11,395
  • Dove Nicholas Kirk
    President, Industrial Assets
    Bought
    Date
    17 August 2026
    Shares
    60,000
    Price
    $1.10
    Value
    $65,940
  • Dove Nicholas Kirk
    President, Industrial Assets
    Bought
    Date
    21 May 2026
    Shares
    26,000
    Price
    $1.22
    Value
    $31,720
  • Sklar James Edward
    EVP, Gen Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    1 May 2026
    Shares
    3,734
    Price
    $1.33
    Value
    $4,966
  • Sklar James Edward
    EVP, Gen Counsel & Secretary
    Sold
    under a preset trading plan
    Date
    1 April 2026
    Shares
    3,734
    Price
    $1.35
    Value
    $5,041

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 4 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from

An insider just bought shares with their own money. The deep dive asks why.

Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.