On May 18, 2023, news broke that Valeo Financial Advisors LLC had purchased new shares in Ritchie Bros. Auctioneers Inc. (NYSE:RBA) (TSE:RBA). The California-based fund had acquired 3,514 shares of RBA stock worth approximately $203,000, according to the latest Form 13F filed with the Securities and Exchange Commission (SEC).
Valeo’s recent acquisitions further strengthen its already strong portfolio of investments in business service providers. With such a large investment in RBA, it is clear that Valeo recognizes the value and growth potential of this company.
But Valeo isn’t the only investor eyeing the RBA. On Tuesday, May 16th, director Adam Dewitt made a significant purchase of RBA shares himself. In a deal totaling $104,800.00, DeWitt bought 2,000 shares of his RBA stock at an average price of $52.40 per share. Following the acquisition, Mr. DeWitt will now directly own 2,000 shares of the Company’s stock valued at an aggregate value of $104,800.
It is worth noting that all transactions of this type are required to be disclosed promptly upon completion in order to ensure transparency and fairness within the market, in accordance with SEC filing guidelines for U.S. public companies. I have. Accordingly, these purchases are legally required to be made publicly accessible through websites maintained by the relevant regulatory bodies.
Despite these recent acquisitions by Valeo and Dewitt, corporate insiders still own only 4.32% of RBA shares. This leaves plenty of opportunities for other investors interested in acquiring stakes in business service providers.
After opening at $52.12 on Wednesday following the news release, slightly down from Monday’s closing price, Ritchie Brothers now has a market cap of about $9.47 billion and a price/earnings multiple of 53.18 times. , with a PER of 3.25 times and a price-to-earnings ratio of 3.25 times. Beta value is 0.89. The company has a 52-week low of $48.72 and a 52-week high of $72.73.
Ritchie Bros. Auctioneers, Inc. has strong financial position and continued growth potential, driven by strong activity in the business service provider market over the past year, It continues to attract investment from both private investors. Given this recent development, it will be very interesting to see how the RBA performs in the stock market in the near future.
RBAMore
Updated: 2023/05/18
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Ritchie Bros. Auctioneer Recent Investments and Changes in Ratings
Ritchie Bros. Auctioneers (NYSE:RBA) has captured the investment focus of hedge funds and other institutional investors and has recently made some changes to its holdings. According to recent reports, Mariner LLC increased its holding by 2.4% in the first quarter, Signature Lev DLLC increased by 28.6% in the third quarter, BNP Paribas Arbitrage SA increased by 41.2% in the second quarter, and Prudential Financial also It also increased its stake by 3.1%. In the third quarter he saw FMR LLC increase his ranking by 1.6%. Institutional investors and hedge funds currently hold about 81.09% of the company’s shares. Given that Ritchie Bros. recently earned a ‘Positive’ rating from OTR Global and National Bankshare raised its price target from $62 to $63, it’s getting special attention from these heavyweights. Of course.
However, while StockNews.com downgraded Ritchie Bros.’s rating from ‘hold’ to ‘sell’, the consensus rating is ‘hold’ based on Bloomberg data, with an average target price of 2.5% given the range of ratings from buy to sell. is priced at $61.14 per share.
In addition, director Adam DeWitt last month acquired an additional 2,000 shares of Ritchie Brothers, valued at approximately $104,800, bringing the new total to approximately $209,000.
Ritchie Bros. will pay a quarterly dividend of $0.27 per share on Tuesday, June 20 this year to shareholders who went public on May 30, currently at an annual rate of 2.07%. Looking ahead, analysts expect his 2023 earnings per share (EPS) for the business to be about $2.34. However, the annual payout ratio figure is still at a high level of over 110%. It will be interesting to see where this investor confidence goes, but for now, Ritchie Bros. seems to be holding up while the investment community continues to monitor the company closely.
