Walleye Capital LLC Buys 55,857 Shares of RB Global, Inc. $RBA

Key Points

• Walleye Capital LLC increased its stake in RB Global by 19.6% in the first quarter, buying 55,857 additional shares and ending with 340,935 shares worth about $32.7 million.
• Analyst sentiment on RB Global remains generally positive, with a consensus Buy rating and an average price target of $127.57, though recent calls were mixed.
• RB Global reported Q1 earnings of $1.01 per share, beating estimates, while revenue reached $888.01 million and rose 11.4% year over year; the company also paid a quarterly dividend of $0.31 per share.

Walleye Capital LLC grew its position in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 19.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,935 shares of the business services provider's stock after purchasing an additional 55,857 shares during the period. Walleye Capital LLC owned approximately 0.18% of RB Global worth $32,679,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in shares of RB Global in the 4th quarter valued at about $29,000. Bayban acquired a new stake in RB Global during the 4th quarter valued at $34,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of RB Global during the 1st quarter worth about $43,000. State of Wyoming bought a new stake in shares of RB Global during the second quarter worth approximately $46,000. Finally, Nemes Rush Group LLC bought a new stake in RB Global in the 4th quarter valued at $54,000. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

RBA has been the topic of a number of analyst reports. Zacks Research upgraded shares of RB Global from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 3rd. Wall Street Zen downgraded RB Global from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Stephens reiterated an "equal weight" rating and issued a $96.00 price target on shares of RB Global in a research note on Tuesday, May 5th. Barclays cut their target price on shares of RB Global from $124.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their target price on RB Global from $146.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $127.57.

Insider Activity

In related news, Director Deborah Stein purchased 425 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $103.15 per share, for a total transaction of $43,838.75. Following the purchase, the director directly owned 1,825 shares in the company, valued at approximately $188,248.75. This trade represents a 30.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by insiders.

RB Global Stock Performance

Shares of RB Global stock opened at $110.56 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.14 and a quick ratio of 1.07. RB Global, Inc. has a one year low of $93.58 and a one year high of $119.58. The business has a 50-day simple moving average of $108.48 and a 200 day simple moving average of $106.27. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 1.73 and a beta of 0.55.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. The firm had revenue of $888.01 million for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a net margin of 9.55% and a return on equity of 12.33%. The business's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. On average, research analysts anticipate that RB Global, Inc. will post 4.16 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, May 27th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.24 annualized dividend and a yield of 1.1%. RB Global's dividend payout ratio is presently 57.67%.

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.

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