Dimensional Fund Advisors LP Raises Holdings in RumbleOn, Inc. (NASDAQ:RMBL)

Dimensional Fund Advisors LP grew its position in RumbleOn, Inc. (NASDAQ:RMBL) by 35.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,182 shares of the company’s stock after buying an additional 7,704 shares during the quarter. Dimensional Fund Advisors LP owned 0.08% of RumbleOn worth $120,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RMBL. Bank of New York Mellon Corp purchased a new stake in shares of RumbleOn in the 2nd quarter worth $182,000. Magnus Financial Group LLC bought a new position in shares of RumbleOn in the 2nd quarter worth $127,000. Rhumbline Advisers raised its position in shares of RumbleOn by 3,910.5% in the 2nd 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. Virtu Financial LLC bought a new position in shares of RumbleOn in the 1st quarter worth $90,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of RumbleOn in the 1st quarter worth $65,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RumbleOn Trading Up 11.8 %

Shares of NASDAQ:RMBL opened at $5.79 on Wednesday. The business’s 50-day moving average is $4.35 and its 200 day moving average is $4.81. RumbleOn, Inc. has a 1 year low of $3.13 and a 1 year high of $8.84. The firm has a market capitalization of $204.14 million, a P/E ratio of -0.58 and a beta of 2.09. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.12 and a quick ratio of 0.27.

RumbleOn (NASDAQ:RMBL) last announced its earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $336.80 million for the quarter, compared to analyst estimates of $386.05 million. RumbleOn had a negative net margin of 15.15% and a negative return on equity of 98.94%. During the same period in the prior year, the company earned $0.02 earnings per share. On average, research analysts predict that RumbleOn, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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