5 Dividend Stocks to Buy According to Christian Leone’s Luxor Capital

3. Ritchie Bros. Auctioneers Incorporated (NYSE:RBA)

Luxor Capital’s Stake Value: $92.39 million

Percentage of Luxor Capital’s 13F Portfolio: 1.6%

Number of Hedge Fund Holders: 13

Div. Yield: 1.95%

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) is an auction and industrial product distribution company. It mainly focuses on heavy industrial machinery and vehicles.

According to our database, in the third quarter of 2021, 13 hedge funds held stakes worth $277.55 million in Ritchie Bros. Auctioneers Incorporated (NYSE:RBA). Meanwhile, in the second quarter, 22 of them held stakes worth $378.8 million. As of the third quarter, Ross Turner’s Pelham Capital owns the largest stake in the company with 1.59 million shares worth $98.26 million, making up 5.44% of Pelham Capital’s portfolio.

The investment management firm Upslope Capital Management mentioned Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) in their third-quarter 2021 investor letter. Here is what the firm said:

“Ritchie Bros. (RBA) is the world’s leading auctioneer/operator of marketplaces for used heavy equipment. RBA thrived in the early COVID days, but has faced a tough 12 months due to cyclical headwinds (tight equipment market = lower volumes). While the headwinds will abate, management messaging, turnover, and capital allocation decisions have become increasingly concerning, in my view, leading me to sell the position.”