Aristeia Capital L.L.C. Cuts Stock Position in RB Global, Inc. (NYSE:RBA)

Aristeia Capital L.L.C. lessened its holdings in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 42.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,249 shares of the business services provider's stock after selling 3,176 shares during the quarter. Aristeia Capital L.L.C.'s holdings in RB Global were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of RB Global during the fourth quarter valued at approximately $266,148,000. Norges Bank bought a new position in shares of RB Global during the 4th quarter worth $209,931,000. FMR LLC increased its stake in shares of RB Global by 137.5% during the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after buying an additional 1,623,429 shares during the period. Vontobel Holding Ltd. lifted its stake in RB Global by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after acquiring an additional 753,700 shares during the period. Finally, FIL Ltd grew its holdings in RB Global by 26.4% during the 4th quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock worth $183,189,000 after acquiring an additional 424,060 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In related news, CRO James J. Jeter sold 600 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $98.63, for a total transaction of $59,178.00. Following the sale, the executive now directly owns 19,667 shares of the company's stock, valued at $1,939,756.21. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Francis Kessler sold 15,700 shares of the company's 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 transaction, the chief executive officer now owns 107,569 shares of the company's stock, valued at approximately $10,521,323.89. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RBA. CIBC dropped their price objective on shares of RB Global from $109.00 to $108.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. National Bankshares lowered their price target on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada lifted their price objective on shares of RB Global from $107.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on shares of RB Global from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, RB Global has an average rating of "Moderate Buy" and a consensus target price of $111.36.

RB Global Stock Performance

Shares of NYSE RBA traded up $0.47 during midday trading on Tuesday, reaching $101.95. The company had a trading volume of 1,245,710 shares, compared to its average volume of 1,096,699. RB Global, Inc. has a 1 year low of $70.27 and a 1 year high of $106.90. The business's 50-day simple moving average is $98.18 and its 200 day simple moving average is $94.47. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $18.88 billion, a P/E ratio of 50.72, a P/E/G ratio of 4.95 and a beta of 0.78.

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). 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, analysts forecast that RB Global, Inc. will post 2.5 earnings per share for the current fiscal year.

About RB Global

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.