B. Riley Wealth Advisors Inc. Has $55,000 Stock Position in RumbleOn, Inc. (NASDAQ:RMBL)

B. Riley Wealth Advisors Inc. reduced its holdings in RumbleOn, Inc. (NASDAQ:RMBL) by 46.6% in the second quarter, HoldingsChannel reports. The firm owned 13,419 shares of the company’s stock after selling 11,700 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in RumbleOn were worth $55,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in shares of RumbleOn by 8.1% in the 1st quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock valued at $377,000 after acquiring an additional 4,375 shares in the last quarter. Rhumbline Advisers boosted its stake in RumbleOn by 3,910.5% during the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after acquiring an additional 19,279 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in RumbleOn in the first quarter worth $65,000. Virtu Financial LLC bought a new stake in RumbleOn in the first quarter valued at $90,000. Finally, Magnus Financial Group LLC acquired a new position in shares of RumbleOn during the second quarter valued at about $127,000. 66.14% of the stock is owned by institutional investors and hedge funds.

RumbleOn Trading Down 2.3 %

NASDAQ RMBL opened at $4.72 on Friday. The company has a quick ratio of 0.27, a current ratio of 1.12 and a debt-to-equity ratio of 2.23. RumbleOn, Inc. has a 52 week low of $3.13 and a 52 week high of $8.84. The business has a 50 day moving average price of $4.25 and a 200-day moving average price of $4.85. The company has a market cap of $166.41 million, a price-to-earnings ratio of -0.48 and a beta of 2.09.

RumbleOn (NASDAQ:RMBL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). RumbleOn had a negative net margin of 15.15% and a negative return on equity of 98.94%. The business had revenue of $336.80 million for the quarter, compared to the consensus estimate of $386.05 million. During the same quarter last year, the firm posted $0.02 EPS. As a group, equities analysts expect that RumbleOn, Inc. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush reduced their target price on RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th.

RumbleOn Profile

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.