RB Global, Inc. (NYSE:RBA) Sees Large Growth in Short Interest

RB Global, Inc. (NYSE:RBA - Get Free Report) TSE: RBA was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 9,600,000 shares, a growth 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 currently 8.1 days. Currently, 5.2% of the shares of the stock are short sold.

Insider Activity at RB Global

In related news, Director Adam Dewitt sold 800 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $106.17, for a total value of $84,936.00. Following the completion of the transaction, the director now owns 5,865 shares of the company's stock, valued at approximately $622,687.05. The trade was a 12.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James J. Jeter sold 3,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $104.38, for a total transaction of $365,330.00. Following the completion of the transaction, the executive now directly owns 16,167 shares of the company's stock, valued at $1,687,511.46. The trade was a 17.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,075 shares of company stock valued at $2,007,349. 4.32% of the stock is owned by insiders.

Institutional Trading of RB Global

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SouthState Corp purchased a new position in RB Global in the 1st quarter worth approximately $26,000. CoreCap Advisors LLC boosted its holdings in RB Global by 74.5% in the 4th quarter. CoreCap Advisors LLC now owns 274 shares of the business services provider's stock worth $25,000 after acquiring an additional 117 shares during the period. SVB Wealth LLC purchased a new position in RB Global in the 1st quarter worth approximately $28,000. MV Capital Management Inc. boosted its holdings in RB Global by 5,560.0% in the 1st quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock worth $28,000 after acquiring an additional 278 shares during the period. Finally, IFP Advisors Inc boosted its holdings in RB Global by 348.8% in the 1st quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock worth $36,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RBA shares. CIBC upped their price objective on shares of RB Global from $116.00 to $118.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Raymond James Financial upped their price objective on shares of RB Global from $118.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Robert W. Baird upped their price objective on shares of RB Global from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. National Bankshares dropped their price objective on shares of RB Global from $118.00 to $115.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, National Bank Financial downgraded shares of RB Global from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, RB Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

RB Global Trading Up 0.2%

RBA traded up $0.16 on Friday, reaching $104.77. 1,783,948 shares of the company's stock were exchanged, compared to its average volume of 1,083,478. The company's 50 day moving average is $103.51 and its 200-day moving average is $97.79. The company has a market cap of $19.40 billion, a price-to-earnings ratio of 51.61, a PEG ratio of 3.69 and a beta of 0.78. RB Global has a twelve month low of $70.38 and a twelve month high of $109.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.21 and a current ratio of 1.31.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.89. The firm 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 company's revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts predict that RB Global will post 2.5 earnings per share for the current year.

RB Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Thursday, May 29th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, May 29th. RB Global's dividend payout ratio (DPR) is presently 57.14%.

RB Global Company 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.