Forward Management buys $7,429,411 stake in Ritchie Bros. Auctioneers (USA) (RBA)

Ritchie Bros. Auctioneers (USA) (RBA) : Forward Management scooped up 33,860 additional shares in Ritchie Bros. Auctioneers (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 226,783 shares of Ritchie Bros. Auctioneers (USA) which is valued at $7,429,411.Ritchie Bros. Auctioneers (USA) makes up approximately 0.58% of Forward Management’s portfolio.

Other Hedge Funds, Including , American Capital Management Inc reduced its stake in RBA by selling 3,280 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 204,375 shares of RBA which is valued at $6,695,325. Ritchie Bros. Auctioneers (USA) makes up approx 0.53% of American Capital Management Inc’s portfolio.Agf Investments boosted its stake in RBA in the latest quarter, The investment management firm added 1,614 additional shares and now holds a total of 2,947 shares of Ritchie Bros. Auctioneers (USA) which is valued at $96,544. Advisory Services Network added RBA to its portfolio by purchasing 96 company shares during the most recent quarter which is valued at $3,152.Eagle Asset Management Inc reduced its stake in RBA by selling 15,085 shares or 10.48% in the most recent quarter. The Hedge Fund company now holds 128,895 shares of RBA which is valued at $4,302,515. Ritchie Bros. Auctioneers (USA) makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.

Ritchie Bros. Auctioneers (USA) opened for trading at $33 and hit $33.1 on the upside on Monday, eventually ending the session at $32.85, with a gain of 0.12% or 0.04 points. The heightened volatility saw the trading volume jump to 5,96,089 shares. Company has a market cap of $3,485 M.

On the company’s financial health, Ritchie Bros. Auctioneers (USA) reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.44. The company had revenue of $158.80 million for the quarter, compared to analysts expectations of $160.50 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Ritchie Bros. Auctioneers (USA). Ritchie Bros. Auctioneers (USA) was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Ritchie Bros. Auctioneers (USA) was Initiated by KeyBanc Capital Mkts to “Sector Weight” on May 27, 2016.

Ritchie Bros. Auctioneers Incorporated is an auctioneer of industrial equipment. The Company is engaged in providing unreserved auction services to equipment buyers and sellers. Ritchie Bros. focuses on the sale of heavy machinery. The Company operates through two segments: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live unreserved auctions with both on-site and online bidding. EquipmentOne segment is a secure online marketplace that facilitates private equipment transactions. The Company sells equipment through unreserved auctions at around 44 auction sites around the world. Through the Company’s unreserved auctions and online marketplaces it sells a range of used and unused industrial assets including equipment trucks and other assets used in the construction transportation agricultural material handling mining forestry energy and marine industries.

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