Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Short Interest Up 29.1% in August

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,730,000 shares, a growth of 29.1% from the August 15th total of 1,340,000 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 452,600 shares, the short-interest ratio is currently 3.8 days.

Shares of NYSE:RBA traded down $0.36 during trading on Monday, reaching $61.21. The stock had a trading volume of 44,183 shares, compared to its average volume of 593,788. Ritchie Bros. Auctioneers has a 52 week low of $50.61 and a 52 week high of $78.64. The business’s 50-day moving average price is $61.18 and its 200 day moving average price is $60.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.16 and a quick ratio of 1.04. The stock has a market capitalization of $6.76 billion, a PE ratio of 37.07, a P/E/G ratio of 5.41 and a beta of 1.18.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Wednesday, August 4th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). Ritchie Bros. Auctioneers had a net margin of 12.70% and a return on equity of 18.95%. The firm had revenue of $396.36 million during the quarter, compared to the consensus estimate of $418.80 million. Analysts forecast that Ritchie Bros. Auctioneers will post 1.72 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, August 25th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Ritchie Bros. Auctioneers’s previous quarterly dividend of $0.22. Ritchie Bros. Auctioneers’s payout ratio is 59.52%.

Several brokerages have recently issued reports on RBA. National Bankshares lowered their price target on Ritchie Bros. Auctioneers from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, August 9th. William Blair downgraded Ritchie Bros. Auctioneers from an “outperform” rating to a “market perform” rating in a research report on Monday, August 9th. National Bank Financial lowered their price target on Ritchie Bros. Auctioneers from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, August 9th. Royal Bank of Canada began coverage on Ritchie Bros. Auctioneers in a research report on Monday. They issued a “sector perform” rating and a $65.00 price target on the stock. Finally, Zacks Investment Research downgraded Ritchie Bros. Auctioneers from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 14th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Ritchie Bros. Auctioneers has an average rating of “Hold” and an average target price of $64.43.

In other Ritchie Bros. Auctioneers news, CFO Sharon Ruth Driscoll sold 14,795 shares of the stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $61.75, for a total transaction of $913,591.25. Following the transaction, the chief financial officer now directly owns 18,395 shares of the company’s stock, valued at $1,135,891.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James J. Jeter sold 7,250 shares of the stock in a transaction on Monday, August 16th. The stock was sold at an average price of $62.90, for a total transaction of $456,025.00. The disclosure for this sale can be found here. Insiders have sold 27,445 shares of company stock worth $1,701,154 over the last ninety days. 0.54% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its position in Ritchie Bros. Auctioneers by 17.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 151,235 shares of the business services provider’s stock worth $8,965,000 after purchasing an additional 22,573 shares during the last quarter. X Square Capital LLC bought a new position in Ritchie Bros. Auctioneers in the 2nd quarter worth approximately $1,115,000. Grandeur Peak Global Advisors LLC raised its position in Ritchie Bros. Auctioneers by 6.3% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 707,126 shares of the business services provider’s stock worth $41,918,000 after purchasing an additional 41,625 shares during the last quarter. Invesco Ltd. raised its position in Ritchie Bros. Auctioneers by 12.8% in the 2nd quarter. Invesco Ltd. now owns 4,063,038 shares of the business services provider’s stock worth $240,857,000 after purchasing an additional 460,892 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in Ritchie Bros. Auctioneers by 37.3% in the 2nd quarter. Maverick Capital Ltd. now owns 19,714 shares of the business services provider’s stock worth $1,169,000 after purchasing an additional 5,359 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

About Ritchie Bros. Auctioneers

Ritchie Bros. Auctioneers, Inc is an industrial auctioneer, which engages in the sale of equipment to on-site and online bidders. It operates through the following segments: Auctions and Marketplaces, Ritchie Bros. Financial Services and Mascus. The Auctions and Marketplaces segment consists of live on site auctions, online auctions and marketplaces, and brokerage service.

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