GAMMA Investing LLC Takes $54,000 Position in RB Global, Inc. (NYSE:RBA)

GAMMA Investing LLC acquired a new stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 843 shares of the business services provider’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in RB Global by 144.9% in the 3rd quarter. Vanguard Group Inc. now owns 22,647,288 shares of the business services provider’s stock valued at $1,415,456,000 after buying an additional 13,400,942 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in RB Global by 10.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,320,114 shares of the business services provider’s stock valued at $645,007,000 after buying an additional 977,171 shares during the last quarter. Cooke & Bieler LP grew its position in RB Global by 3.6% in the 4th quarter. Cooke & Bieler LP now owns 3,627,957 shares of the business services provider’s stock worth $242,674,000 after purchasing an additional 124,815 shares during the last quarter. Fiera Capital Corp grew its position in RB Global by 4.5% in the 3rd quarter. Fiera Capital Corp now owns 2,614,152 shares of the business services provider’s stock worth $164,125,000 after purchasing an additional 113,514 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its position in RB Global by 50.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 1,375,673 shares of the business services provider’s stock worth $86,528,000 after purchasing an additional 460,858 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity at RB Global

In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the transaction, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Darren Jeffrey Watt sold 1,100 shares of RB Global stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $77.05, for a total transaction of $84,755.00. Following the completion of the transaction, the insider now directly owns 21,103 shares of the company’s stock, valued at approximately $1,625,986.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James J. Jeter sold 11,416 shares of RB Global stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $76.32, for a total transaction of $871,269.12. Following the transaction, the executive now directly owns 30,915 shares of the company’s stock, valued at $2,359,432.80. The disclosure for this sale can be found here. Insiders sold 14,816 shares of company stock valued at $1,133,055 in the last ninety days. Insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RBA shares. Raymond James raised their price target on shares of RB Global from $78.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. StockNews.com upgraded shares of RB Global from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Scotiabank raised their price target on shares of RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price objective on shares of RB Global from $75.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

RB Global Price Performance

NYSE:RBA opened at $71.32 on Thursday. The company has a 50-day moving average of $74.86 and a 200-day moving average of $68.25. The company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 83.91, a PEG ratio of 5.38 and a beta of 0.88. RB Global, Inc. has a 52 week low of $51.07 and a 52 week high of $77.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.23 and a current ratio of 1.35.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Friday, February 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. RB Global had a net margin of 5.61% and a return on equity of 4.19%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 134.5% on a year-over-year basis. As a group, equities research analysts anticipate that RB Global, Inc. will post 1.9 earnings per share for the current fiscal year.

RB Global 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.