RB Global, Inc. (NYSE:RBA) Short Interest Up 24.0% in May

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 9,600,000 shares, an increase of 24.0% from the May 15th total of 7,740,000 shares. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is presently 8.1 days. Currently, 5.2% of the shares of the company are sold short.

Insider Activity at RB Global

In related news, CRO James J. Jeter sold 2,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $106.96, for a total value of $213,920.00. Following the completion of the transaction, the executive now owns 14,167 shares of the company's stock, valued at approximately $1,515,302.32. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew John Fesler sold 9,075 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $104.72, for a total transaction of $950,334.00. Following the completion of the sale, the insider now directly owns 5,532 shares of the company's stock, valued at approximately $579,311.04. The trade was a 62.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,675 shares of company stock worth $2,066,527 in the last ninety days. 4.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RBA. CoreCap Advisors LLC lifted its holdings in shares of RB Global by 74.5% during the fourth quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock valued at $25,000 after purchasing an additional 117 shares in the last quarter. SouthState Corp bought a new position in shares of RB Global during the first quarter valued at $26,000. MV Capital Management Inc. lifted its holdings in shares of RB Global by 5,560.0% during the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after purchasing an additional 278 shares in the last quarter. SVB Wealth LLC bought a new position in RB Global in the first quarter valued at about $28,000. Finally, Jones Financial Companies Lllp boosted its position in RB Global by 49.4% in the fourth 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 during the last quarter. 95.37% of the stock is owned by institutional investors.

RB Global Stock Down 0.3%

RBA stock traded down $0.36 during midday trading on Wednesday, hitting $104.58. The stock had a trading volume of 570,550 shares, compared to its average volume of 1,085,382. The firm has a market cap of $19.37 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 3.71 and a beta of 0.78. The business has a 50-day moving average of $103.16 and a two-hundred day moving average of $97.69. RB Global has a 52-week low of $70.38 and a 52-week high of $109.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.21.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. RB Global had a net margin of 9.68% and a return on equity of 8.03%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts forecast that RB Global will post 2.5 earnings per share for the current fiscal year.

RB Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 29th. RB Global's payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Raymond James Financial lifted their price target on RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Robert W. Baird lifted their price target on RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. CIBC lifted their price target on RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. Finally, National Bank Financial downgraded RB Global from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RB Global has a consensus rating of "Moderate Buy" and an average price target of $114.50.

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.

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