RB Global, Inc. (NYSE:RBA) Shares Acquired by Hollencrest Capital Management

Hollencrest Capital Management raised its stake in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 99.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 875 shares of the business services provider’s stock after purchasing an additional 437 shares during the period. Hollencrest Capital Management’s holdings in RB Global were worth $70,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RBA. Massmutual Trust Co. FSB ADV raised its position in shares of RB Global by 58.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after buying an additional 165 shares during the period. UMB Bank n.a. raised its holdings in shares of RB Global by 196.0% in the 3rd quarter. UMB Bank n.a. now owns 586 shares of the business services provider’s stock worth $47,000 after purchasing an additional 388 shares during the period. Quarry LP acquired a new position in shares of RB Global in the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC grew its holdings in shares of RB Global by 33.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider’s stock worth $64,000 after purchasing an additional 210 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in RB Global by 30.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,020 shares of the business services provider’s stock worth $78,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of RB Global from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets assumed coverage on shares of RB Global in a research report on Thursday, September 5th. They set an “outperform” rating and a $105.00 price target for the company. Raymond James raised their price objective on RB Global from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Bank of America boosted their price objective on RB Global from $79.00 to $92.50 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada increased their target price on RB Global from $93.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, RB Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.19.

RB Global Stock Up 2.8 %

Shares of NYSE RBA opened at $91.86 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.29. RB Global, Inc. has a 1 year low of $58.85 and a 1 year high of $93.18. The stock’s 50-day simple moving average is $83.66 and its 200-day simple moving average is $79.68. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 51.61, a PEG ratio of 5.82 and a beta of 0.92.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. RB Global’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities analysts anticipate that RB Global, Inc. will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RB Global news, insider Darren Jeffrey Watt sold 2,915 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CRO James J. Jeter sold 3,000 shares of RB Global stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.55, for a total value of $256,650.00. Following the completion of the transaction, the executive now directly owns 20,267 shares in the company, valued at approximately $1,733,841.85. This trade represents a 0.00 % 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 link. Also, insider Darren Jeffrey Watt sold 2,915 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $82.80, for a total value of $241,362.00. Following the sale, the insider now owns 19,271 shares in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,601 shares of company stock worth $3,720,043. Insiders own 4.32% of the company’s stock.

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.