Rentokil Initial (NYSE:RTO) Shares Gap Down - Here's What Happened

Rentokil Initial PLC (NYSE:RTO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $23.79, but opened at $23.15. Rentokil Initial shares last traded at $23.21, with a volume of 61,803 shares traded.

Analyst Ratings Changes

Separately, Sanford C. Bernstein cut Rentokil Initial from a "market perform" rating to an "underperform" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rentokil Initial has a consensus rating of "Moderate Buy".

Rentokil Initial Trading Down 2.5%

The business has a fifty day simple moving average of $23.65 and a 200-day simple moving average of $23.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 15.36 and a beta of 0.94.

Institutional Investors Weigh In On Rentokil Initial

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Rentokil Initial by 416.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,132 shares of the company's stock valued at $27,000 after purchasing an additional 913 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Rentokil Initial by 668.3% during the 1st quarter. Brooklyn Investment Group now owns 1,598 shares of the company's stock valued at $37,000 after purchasing an additional 1,390 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Rentokil Initial by 486.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,942 shares of the company's stock worth $49,000 after acquiring an additional 1,611 shares in the last quarter. State of Wyoming bought a new position in Rentokil Initial in the first quarter worth approximately $46,000. Finally, Cape Investment Advisory Inc. boosted its holdings in Rentokil Initial by 67.4% in the first quarter. Cape Investment Advisory Inc. now owns 2,519 shares of the company's stock worth $58,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors own 9.91% of the company's stock.

Rentokil Initial Company Profile

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.

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