Marshall Wace LLP Acquires New Position in RB Global, Inc. (NYSE:RBA)

Marshall Wace LLP bought a new position in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,100 shares of the business services provider’s stock, valued at approximately $640,000.

Other hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of RB Global by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,729 shares of the business services provider’s stock valued at $3,674,000 after buying an additional 113 shares during the last quarter. Jones Financial Companies Lllp grew its stake in 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. Summit Trail Advisors LLC increased its holdings in shares of RB Global by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 3,089 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 137 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of RB Global by 25.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 706 shares of the business services provider’s stock worth $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of RB Global by 136.4% during the fourth quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock worth $28,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling at RB Global

In other RB Global news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 107,569 shares of the company’s stock, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $97.85, for a total value of $743,366.45. Following the completion of the sale, the executive now directly owns 20,267 shares in the company, valued at $1,983,125.95. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,897 shares of company stock valued at $2,338,161 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

RB Global Stock Performance

NYSE RBA opened at $100.02 on Friday. The stock has a market capitalization of $18.52 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 4.95 and a beta of 0.90. The stock has a 50-day moving average of $98.10 and a 200 day moving average of $93.93. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. RB Global, Inc. has a twelve month low of $69.83 and a twelve month high of $106.90.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $0.82 earnings per share. Sell-side analysts anticipate that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RBA. National Bankshares reduced their price target on shares of RB Global from $118.00 to $115.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. CIBC decreased their target price on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Robert W. Baird increased their price target on RB Global from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James boosted their price objective on RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets raised their target price on RB Global from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.36.

RB Global Company 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.