Short Interest in RB Global, Inc. (NYSE:RBA) Decreases By 30.6%

RB Global, Inc. (NYSE:RBA) (TSE:RBA) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 3,400,000 shares, a decrease of 30.6% from the January 15th total of 4,900,000 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 874,400 shares, the short-interest ratio is currently 3.9 days.

Institutional Trading of RB Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new stake in RB Global in the 4th quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in RB Global by 136.4% in the 4th quarter. Versant Capital Management Inc now owns 305 shares of the business services provider’s stock valued at $28,000 after buying an additional 176 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RB Global by 49.4% in the 4th quarter. Jones Financial Companies Lllp now owns 390 shares of the business services provider’s stock valued at $35,000 after buying an additional 129 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in RB Global in the 4th quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in RB Global in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

RB Global Stock Up 0.4 %

Shares of NYSE RBA traded up $0.36 during mid-day trading on Friday, reaching $96.28. 1,104,261 shares of the company traded hands, compared to its average volume of 952,394. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market cap of $17.79 billion, a PE ratio of 52.33, a price-to-earnings-growth ratio of 3.82 and a beta of 0.96. The company’s fifty day moving average is $91.47 and its two-hundred day moving average is $87.73. RB Global has a fifty-two week low of $65.99 and a fifty-two week high of $99.79.

RB Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is currently 63.04%.

Analyst Ratings Changes

RBA has been the subject of a number of recent research reports. StockNews.com raised RB Global from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their price target on RB Global from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. CIBC cut their price target on RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada raised their price target on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird raised their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.21.

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.