Cacti Asset Management Lowers stake in Ritchie Bros. Auctioneers (USA) (RBA)

Ritchie Bros. Auctioneers (USA) (RBA) : Cacti Asset Management reduced its stake in Ritchie Bros. Auctioneers (USA) by 18.75% during the most recent quarter end. The investment management company now holds a total of 3,250 shares of Ritchie Bros. Auctioneers (USA) which is valued at $88,335 after selling 750 shares in Ritchie Bros. Auctioneers (USA) according to a report filed by the company on Apr 1, 2016 with the SEC.Ritchie Bros. Auctioneers (USA) makes up approximately 0.01% of Cacti Asset Management’s portfolio.

On the company’s financial health, Ritchie Bros. Auctioneers (USA) reported $0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $0.32. The company had revenue of $135.46 million for the quarter, compared to analysts expectations of $136.65 million. The company’s revenue was down -2.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Ritchie Bros. Auctioneers (USA). Shares were Reiterated by RBC Capital Mkts on Jan 12, 2016 to “Outperform” and Lowered the Price Target to $ 28 from a previous price target of $32 .

Ritchie Bros. Auctioneers (USA) opened for trading at $27.19 and hit $27.86 on the upside on Monday, eventually ending the session at $27.51, with a gain of 1.51% or 0.41 points. The heightened volatility saw the trading volume jump to 5,10,649 shares. Company has a market cap of $2,949 M.

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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