CTC Alternative Strategies Ltd. Takes $209,000 Position in RB Global, Inc. (NYSE:RBA)

CTC Alternative Strategies Ltd. bought a new stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,322 shares of the business services provider’s stock, valued at approximately $209,000.

Other large investors have also recently made changes to their positions in the company. CoreCap Advisors LLC increased its position in shares of RB Global by 74.5% during the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 117 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of RB Global by 49.4% during the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 129 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of RB Global during the 4th quarter worth $36,000. Whipplewood Advisors LLC bought a new position in shares of RB Global during the 4th quarter worth $37,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of RB Global during the 4th quarter worth $40,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBA has been the subject of several research reports. Wall Street Zen upgraded RB Global from a “hold” rating to a “buy” rating in a research note on Tuesday. CIBC increased their price target on RB Global from $116.00 to $118.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Robert W. Baird increased their price target on RB Global from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. National Bankshares cut their price target on RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, BMO Capital Markets increased their price target on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RB Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

RB Global Stock Down 1.2%

Shares of NYSE RBA opened at $107.24 on Friday. RB Global, Inc. has a 52 week low of $70.27 and a 52 week high of $109.25. The business has a 50-day simple moving average of $100.11 and a two-hundred day simple moving average of $96.28. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.86 billion, a P/E ratio of 53.35, a P/E/G ratio of 4.95 and a beta of 0.78.

RB Global (NYSE:RBA) (TSE:RBA) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Thursday, May 29th will be paid a $0.29 dividend. The ex-dividend date is Thursday, May 29th. This represents a $1.16 annualized dividend and a yield of 1.08%. RB Global’s dividend payout ratio is currently 57.14%.

Insiders Place Their Bets

In other news, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.81, for a total transaction of $1,535,617.00. Following the completion of the sale, the chief executive officer now owns 107,569 shares in the company, valued at approximately $10,521,323.89. This trade represents a 12.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $97.85, for a total value of $743,366.45. Following the sale, the executive now owns 20,267 shares of the company’s stock, valued at approximately $1,983,125.95. This trade represents a 27.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,472 shares of company stock worth $3,867,745 in the last quarter. 4.32% of the stock is owned by company insiders.

RB Global Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.