Force Capital Management adds Ritchie Bros. Auctioneers (USA) (RBA) to its portfolio

Ritchie Bros. Auctioneers (USA) (RBA) : Force Capital Management added new position in Ritchie Bros. Auctioneers (USA) during the most recent quarter end. The investment management firm now holds 30,000 shares of Ritchie Bros. Auctioneers (USA) which is valued at $841,500 , the company said in a statement filed on Aug 15, 2016 with the SEC.Ritchie Bros. Auctioneers (USA) makes up approximately 0.64% of Force Capital Management’s portfolio.

Other Hedge Funds, Including , Qs Investors reduced its stake in RBA by selling 39,400 shares or 21.39% in the most recent quarter. The Hedge Fund company now holds 144,764 shares of RBA which is valued at $4,060,630. Ritchie Bros. Auctioneers (USA) makes up approx 0.03% of Qs Investors’s portfolio.Spark Investment Management boosted its stake in RBA in the latest quarter, The investment management firm added 221,100 additional shares and now holds a total of 278,600 shares of Ritchie Bros. Auctioneers (USA) which is valued at $7,814,730. Ritchie Bros. Auctioneers (USA) makes up approx 0.67% of Spark Investment Management’s portfolio.Bell State Bank Trust boosted its stake in RBA in the latest quarter, The investment management firm added 1,570 additional shares and now holds a total of 10,010 shares of Ritchie Bros. Auctioneers (USA) which is valued at $280,781. Ritchie Bros. Auctioneers (USA) makes up approx 0.16% of Bell State Bank Trust’s portfolio.Acrospire Investment Management reduced its stake in RBA by selling 700 shares or 63.64% in the most recent quarter. The Hedge Fund company now holds 400 shares of RBA which is valued at $13,140. Ritchie Bros. Auctioneers (USA) makes up approx 0.01% of Acrospire Investment Management’s portfolio.Huntington National Bank reduced its stake in RBA by selling 2,107 shares or 30.67% in the most recent quarter. The Hedge Fund company now holds 4,764 shares of RBA which is valued at $156,402.

Ritchie Bros. Auctioneers (USA) closed down -0.11 points or -0.32% at $34.72 with 10,12,192 shares getting traded on Thursday. Post opening the session at $34.83, the shares hit an intraday low of $34.3 and an intraday high of $34.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 Upgraded by BofA/Merrill to ” Neutral” on Aug 31, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $32 .Macquarie Initiated Ritchie Bros. Auctioneers (USA) on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $34.

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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