Arvin Capital Management LP Takes Position in RB Global, Inc. (NYSE:RBA)

Arvin Capital Management LP purchased a new stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 48,582 shares of the business services provider's stock, valued at approximately $4,383,000. RB Global makes up 1.2% of Arvin Capital Management LP's investment portfolio, making the stock its 24th largest holding.

A number of other large investors also recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new stake in shares of RB Global in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc grew its stake in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider's stock valued at $28,000 after acquiring an additional 176 shares during the period. Jones Financial Companies Lllp increased its holdings in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider's stock worth $35,000 after acquiring an additional 129 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in RB Global during the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC purchased a new position in RB Global during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Buying and Selling

In other news, CRO James J. Jeter sold 600 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $98.63, for a total value of $59,178.00. Following the transaction, the executive now directly owns 19,667 shares in the company, valued at approximately $1,939,756.21. This represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of RB Global stock in a transaction that occurred on 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 owns 107,569 shares of the company's stock, valued at $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,897 shares of company stock worth $2,338,161. Company insiders own 4.32% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on RBA shares. Raymond James boosted their target price on shares of RB Global from $110.00 to $118.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. 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 research note on Wednesday, February 19th. National Bankshares dropped their price target on RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered RB Global from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada upped their target price on shares of RB Global from $107.00 to $116.00 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.36.

RB Global Trading Up 0.2 %

Shares of RBA traded up $0.22 during midday trading on Friday, reaching $98.95. The company had a trading volume of 609,872 shares, compared to its average volume of 1,083,490. The firm has a 50 day simple moving average of $98.40 and a 200-day simple moving average of $93.58. 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 stock has a market cap of $18.32 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90. RB Global, Inc. has a 1-year low of $69.83 and a 1-year high of $106.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly 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). The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.06 billion. RB Global had a net margin of 9.64% and a return on equity of 8.00%. During the same period last year, the company earned $0.82 EPS. Research analysts forecast that RB Global, Inc. will post 2.5 EPS for the current fiscal year.

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.