Ritchie Bros. Auctioneers (USA) (RBA) : Palisade Capital Managementnj reduced its stake in Ritchie Bros. Auctioneers (USA) by 15.03% during the most recent quarter end. The investment management company now holds a total of 447,391 shares of Ritchie Bros. Auctioneers (USA) which is valued at $14,656,529 after selling 79,116 shares in Ritchie Bros. Auctioneers (USA) , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Ritchie Bros. Auctioneers (USA) makes up approximately 0.62% of Palisade Capital Managementnj’s portfolio.
Other Hedge Funds, Including , Cibc Asset Management Inc reduced its stake in RBA by selling 129,275 shares or 72.76% in the most recent quarter. The Hedge Fund company now holds 48,394 shares of RBA which is valued at $1,585,387. Ritchie Bros. Auctioneers (USA) makes up approx 0.01% of Cibc Asset Management Inc’s portfolio. Delta Asset Managementtn sold out all of its stake in RBA during the most recent quarter. The investment firm sold 103 shares of RBA which is valued $3,422.Salient Trust Co Lta boosted its stake in RBA in the latest quarter, The investment management firm added 1,660 additional shares and now holds a total of 24,350 shares of Ritchie Bros. Auctioneers (USA) which is valued at $812,803. Ritchie Bros. Auctioneers (USA) makes up approx 0.09% of Salient Trust Co Lta’s portfolio. Barometer Capital Management added RBA to its portfolio by purchasing 81,500 company shares during the most recent quarter which is valued at $2,746,550. Ritchie Bros. Auctioneers (USA) makes up approx 0.27% of Barometer Capital Management’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 Companys 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.