Renaissance Technologies LLC Increases Stake in Ritchie Bros. Auctioneers Incorporated (RBA)

Renaissance Technologies LLC increased its position in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) by 590.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 432,600 shares of the business services provider’s stock after buying an additional 369,900 shares during the period. Renaissance Technologies LLC owned 0.40% of Ritchie Bros. Auctioneers worth $14,235,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RBA. CGOV Asset Management boosted its position in Ritchie Bros. Auctioneers by 150.2% in the first quarter. CGOV Asset Management now owns 6,956,054 shares of the business services provider’s stock valued at $304,466,000 after buying an additional 4,175,593 shares during the period. Norges Bank purchased a new stake in Ritchie Bros. Auctioneers during the fourth quarter valued at approximately $53,619,000. Massachusetts Financial Services Co. MA boosted its stake in Ritchie Bros. Auctioneers by 57.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,498,984 shares of the business services provider’s stock valued at $115,116,000 after buying an additional 1,271,836 shares during the last quarter. KAMES CAPITAL plc purchased a new stake in Ritchie Bros. Auctioneers during the first quarter valued at approximately $25,500,000. Finally, Mackenzie Financial Corp boosted its stake in Ritchie Bros. Auctioneers by 2,029.1% in the first quarter. Mackenzie Financial Corp now owns 480,485 shares of the business services provider’s stock valued at $15,808,000 after buying an additional 457,917 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Ritchie Bros. Auctioneers Incorporated (NYSE RBA) traded up 8.57% during mid-day trading on Tuesday, hitting $29.64. The stock had a trading volume of 2,781,753 shares. Ritchie Bros. Auctioneers Incorporated has a 12 month low of $26.68 and a 12 month high of $39.96. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 43.59 and a beta of 0.55. The firm’s 50-day moving average is $28.30 and its 200 day moving average is $30.91.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last issued its earnings results on Monday, August 7th. The business services provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $166.20 million for the quarter, compared to analyst estimates of $161.85 million. Ritchie Bros. Auctioneers had a net margin of 13.02% and a return on equity of 15.19%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Equities analysts anticipate that Ritchie Bros. Auctioneers Incorporated will post $1.05 EPS for the current fiscal year.

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Several equities research analysts have commented on the company. BidaskClub cut Ritchie Bros. Auctioneers from a “sell” rating to a “strong sell” rating in a research note on Saturday. Jefferies Group LLC reaffirmed a “hold” rating and set a $29.00 price target on shares of Ritchie Bros. Auctioneers in a research report on Friday, July 14th. Raymond James Financial, Inc. lowered their price target on Ritchie Bros. Auctioneers from $33.50 to $29.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 11th. Scotiabank lowered their price target on Ritchie Bros. Auctioneers from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, July 10th. Finally, TD Securities lowered their price target on Ritchie Bros. Auctioneers from $28.00 to $27.00 and set a “reduce” rating on the stock in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Ritchie Bros. Auctioneers has an average rating of “Hold” and a consensus price target of $33.75.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros Auctioneers Inc is a Canada-based holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. Its segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes its EquipmentOne and Mascus International Holding B.V.

Institutional Ownership by Quarter for Ritchie Bros. Auctioneers (NYSE:RBA)

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