Adage Capital Partners GP L.L.C. Acquires 182,764 Shares of RB Global, Inc. (NYSE:RBA)

Adage Capital Partners GP L.L.C. lifted its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 30.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 777,000 shares of the business services provider's stock after buying an additional 182,764 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.42% of RB Global worth $70,093,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of RB Global in the 4th quarter valued at $27,000. Versant Capital Management Inc increased its holdings in RB Global by 136.4% during the 4th 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 in the last quarter. Jones Financial Companies Lllp increased its holdings 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 worth $35,000 after purchasing an additional 129 shares in the last quarter. Proficio Capital Partners LLC bought a new position in RB Global during the 4th quarter worth about $36,000. Finally, Whipplewood Advisors LLC bought a new position in RB Global during the 4th quarter worth about $37,000. Institutional investors own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. National Bankshares lowered their target price on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Robert W. Baird lifted their price target on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. StockNews.com cut RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. CIBC reduced their price target on RB Global from $109.00 to $108.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets lifted their price target on RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RB Global has an average rating of "Moderate Buy" and a consensus price target of $111.36.

RB Global Stock Down 0.0 %

RB Global stock traded down $0.03 during mid-day trading on Tuesday, reaching $98.72. The stock had a trading volume of 193,868 shares, compared to its average volume of 1,079,202. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.29. RB Global, Inc. has a fifty-two week low of $69.83 and a fifty-two week high of $106.90. The stock's 50-day simple moving average is $98.29 and its 200-day simple moving average is $93.71. The firm has a market capitalization of $18.28 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23). RB Global had a net margin of 9.64% and a return on equity of 8.00%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company earned $0.82 EPS. On average, sell-side analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

Insider Activity

In other news, CEO James Francis Kessler sold 15,700 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 directly owns 107,569 shares in the company, valued at approximately $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO James J. Jeter sold 7,597 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company's stock, valued at $1,983,125.95. This trade represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,897 shares of company stock worth $2,338,161. 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.