Alpine Global Management LLC Buys New Shares in RB Global, Inc. (NYSE:RBA)

Alpine Global Management LLC purchased a new position in shares of RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,745 shares of the business services provider's stock, valued at approximately $789,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of RB Global during the fourth quarter worth $266,148,000. Norges Bank acquired a new stake in shares of RB Global in the fourth quarter worth approximately $209,931,000. FMR LLC boosted its holdings in RB Global by 137.5% in the fourth quarter. FMR LLC now owns 2,804,404 shares of the business services provider's stock valued at $252,985,000 after acquiring an additional 1,623,429 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of RB Global by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider's stock worth $762,378,000 after purchasing an additional 753,700 shares during the period. Finally, FIL Ltd lifted its stake in shares of RB Global by 26.4% in the 4th quarter. FIL Ltd now owns 2,030,696 shares of the business services provider's stock valued at $183,189,000 after purchasing an additional 424,060 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of RB Global from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. BMO Capital Markets lifted their price target on shares of RB Global from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their target price on RB Global from $107.00 to $116.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Robert W. Baird boosted their price target on RB Global from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Raymond James upped their target price on RB Global from $110.00 to $118.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $111.36.

RB Global Stock Performance

RB Global stock traded up $0.22 on Friday, hitting $98.95. The company's stock had a trading volume of 609,872 shares, compared to its average volume of 1,080,982. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $98.40 and a 200-day moving average price of $93.39. RB Global, Inc. has a one year low of $69.83 and a one year high of $106.90. The firm has a market cap of $18.32 billion, a P/E ratio of 49.23, a price-to-earnings-growth ratio of 4.95 and a beta of 0.90.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.23). RB Global had a return on equity of 8.00% and a net margin of 9.64%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities analysts anticipate that RB Global, Inc. will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 7,597 shares of RB Global stock in a transaction on Monday, March 17th. The shares were sold at an average price of $97.85, for a total transaction of $743,366.45. Following the completion of the sale, the executive now owns 20,267 shares of the company's stock, valued at approximately $1,983,125.95. The trade was a 27.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Francis Kessler sold 15,700 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $97.81, for a total value of $1,535,617.00. Following the completion of the transaction, the chief executive officer now owns 107,569 shares in the company, valued at $10,521,323.89. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,897 shares of company stock valued at $2,338,161. 4.32% of the stock is currently owned by corporate insiders.

About RB Global

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.