B. Riley Financial, Inc. 5.50% Senior Notes Due 2026 (RILYK)

B. Riley Financial, Inc. 5.50% Senior Notes Due 2026 (NASDAQ: RILYK - Get Free Report) shares were up 0.1% during mid-day trading on Friday. The company traded as high as $24.95 and last traded at $24.95. Approximately 5,013 shares were traded during trading, a decline of 80% from the average daily volume of 24,824 shares.

B. Riley Financial, Inc. (NASDAQ:RILY ) Business Update Call August 13, 2025 4:30 PM ET Company Participants Bryant Richard Riley - Co-Founder, Chairman & Co-CEO Scott Yessner - Executive Vice President & CFO Thomas J. Kelleher - Co-Founder, Co-CEO & Director Conference Call Participants Operator Good day, and welcome to the Fiscal Year 2024 Preliminary Results (sic) [ Fiscal Year 2024 Results ] and a Preliminary Financial and Business Update for First Half 2025.

We take a look at the action in preferreds and baby bonds through the fourth week of January and highlight some of the key themes we are watching. Preferred stocks had a strong week with a 1% return, while Treasury yields remained stable and credit spreads tightened near multi-year lows. B. Riley suspended its preferred dividends, causing significant share price drops; dividends are cumulative and will continue to accrue.

Since my 'Strong Sell' view on B Riley and all its related securities, the common stock has fallen 64% and other security classes too have fallen more than 20%. The hierarchy of returns across B Riley's security classes has also played out as per my expectations, with shorter maturity duration, lower yield securities doing better. B Riley's balance sheet has gotten far worse due to large asset writedowns that, I believe, have eradicated more than 80% of goodwill, validating my earlier approaches to value appraisal.

We are exploring a steady way to achieve a $2 million nest egg through strategic dividend investing. High-yield dividends let you build long-term wealth while providing usable current income. We discuss two picks with up to 8.8% yields for a comfortable retirement.

Introducing a new recurring series to help you sift through ideas and data on the site: The "Undercovered" Dozen. In this monthly series, we'll cover twelve ideas from the previous month on stocks that receive limited coverage across Seeking Alpha.

I enjoy building my own pizza, just as I'm crafting a custom retirement recipe with a bond ladder and my choicest ingredients. A custom-built bond ladder is a retirement powerhouse, mitigating interest rate risk and regularly releasing capital for reinvestment. We discuss three bond issuers with up to 20% Yield-to-Maturity.

B. Riley Financial made moves to start repurchasing its debt at currently attractive discounts by cutting its quarterly dividend by 50%. RILYZ currently offers a near-10% yield on cost at a 45% discount to their $25 per note liquidation value. The investment bank held cash and equivalents at the end of its recent fourth quarter of $232 million and has launched a strategic review for its Great American Group business.

Insider ownership and accumulation tells us a lot about management's confidence in the business model. We discuss EPD and RILY for robust cash flows backed by high insider ownership. +7.6% yields from economically insensitive fee-based businesses.

The Bloomberg report alleging an investigation into Franchise Group, Inc. (FRG)'s CEO relates to a fraud case against one of his associates from a previous employment, unlikely to impact RILY or FRG. Management is committed to its $1 quarterly distribution, yielding 20% annually, and has the financial capability to maintain it. RILY's operations are tied to the SME sector, and the improving market conditions are poised to impact its business positively.

Baby bonds provide accessible entry into the highest tier of the corporate capital structure. Known for their steady CD-beating interest payments, these securities can offer substantial capital upside if purchased at today's deeply discounted prices. Baby bonds are a must-have in a diversified portfolio, and we are building a custom maturity ladder at HDO.

Global alternative asset manager Kohlberg Kravis Roberts & Co. L.P. is loading up on high-yield bonds and asset-based loans. We present our top picks in this asset class, up to 11% yields. The current rate cycle is almost over; is your portfolio ready to face rate cuts?

Steve Eisman believes the era of investing in hyper-growth sectors is over. The “Big Short” investor finds meaningful opportunities in the fixed-income camp, construction, utilities, and materials. We are actively buying this asset class, and discuss our top picks in this category with up to ~10% yields.

Warren Buffett is a buyer of discounted yet profitable investments in troubled sectors. Markets never display an “all clear” until stocks become very expensive. We are buyers of discounted yields to maximize passive income.

The Internet has changed how we communicate, in both positive and negative ways. Following COVID, meme mania spread across the internet, resulting in unreasonably high valuations. "Short reports" have been doing the opposite in a bearish market.

We take a look at the action in preferreds and baby bonds through the third week of June and highlight some of the key themes we are watching. Preferreds were roughly flat as higher Treasury yields were offset by tighter credit spreads. We take a look at a couple of pricing discrepancies in the B. Riley Financial senior security suite, which are indicative of broader market inefficiencies.