Engineers Gate Manager LP cut its holdings in shares of Ritchie Bros. Auctioneers Inc (NYSE:RBA) (TSE:RBA) by 21.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,941 shares of the business services provider’s stock after selling 9,237 shares during the period. Engineers Gate Manager LP’s holdings in Ritchie Bros. Auctioneers were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of RBA. Cutler Group LP lifted its position in Ritchie Bros. Auctioneers by 125.6% during the second quarter. Cutler Group LP now owns 4,688 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 22,971 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Ritchie Bros. Auctioneers during the second quarter valued at $207,000. We Are One Seven LLC acquired a new position in Ritchie Bros. Auctioneers during the third quarter valued at $216,000. Tower Research Capital LLC TRC lifted its position in Ritchie Bros. Auctioneers by 197.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,036 shares of the business services provider’s stock valued at $275,000 after purchasing an additional 5,336 shares during the period. Finally, Guggenheim Capital LLC acquired a new position in Ritchie Bros. Auctioneers during the first quarter valued at $287,000. Institutional investors own 93.82% of the company’s stock.
RBA has been the subject of a number of recent analyst reports. Scotiabank set a $39.00 price objective on shares of Ritchie Bros. Auctioneers and gave the company a “hold” rating in a report on Monday, August 13th. Barrington Research reaffirmed a “hold” rating on shares of Ritchie Bros. Auctioneers in a report on Monday, August 13th. Zacks Investment Research cut shares of Ritchie Bros. Auctioneers from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Royal Bank of Canada lifted their price objective on shares of Ritchie Bros. Auctioneers from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Monday, August 13th. Finally, National Bank Financial lifted their price objective on shares of Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the company a “sector perform” rating in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Ritchie Bros. Auctioneers presently has an average rating of “Hold” and an average price target of $36.11.
RBA opened at $35.34 on Friday. Ritchie Bros. Auctioneers Inc has a fifty-two week low of $24.08 and a fifty-two week high of $38.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.26 and a quick ratio of 1.13. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 43.63, a PEG ratio of 2.30 and a beta of 0.78.
Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The company had revenue of $159.30 million during the quarter, compared to analysts’ expectations of $163.59 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Ritchie Bros. Auctioneers Inc will post 1.1 EPS for the current year.
In other news, SVP Kieran Colquhoun Holm sold 13,240 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total transaction of $506,297.60. Following the completion of the sale, the senior vice president now owns 11,278 shares of the company’s stock, valued at $431,270.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.
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About Ritchie Bros. Auctioneers
Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.
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