RumbleOn (NASDAQ:RMBL) Cut to “Neutral” at B. Riley

B. Riley lowered shares of RumbleOn (NASDAQ:RMBL) from a buy rating to a neutral rating in a report released on Friday, Marketbeat.com reports. The brokerage currently has $7.00 price target on the stock.

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 report on Thursday, August 8th.

RumbleOn Trading Down 2.4 %

Shares of RMBL stock opened at $6.83 on Friday. The firm has a market capitalization of $241.58 million, a P/E ratio of -0.81 and a beta of 2.08. RumbleOn has a 1 year low of $3.13 and a 1 year high of $8.84. The firm’s fifty day simple moving average is $5.31 and its 200 day simple moving average is $4.82. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The company had revenue of $295.00 million for the quarter, compared to the consensus estimate of $302.76 million. During the same quarter in the previous year, the firm posted ($0.71) EPS. As a group, sell-side analysts predict that RumbleOn will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in RumbleOn during the first quarter worth $90,000. Bank of New York Mellon Corp bought a new stake in shares of RumbleOn in the 2nd quarter worth about $182,000. Rhumbline Advisers increased its position in shares of RumbleOn by 3,910.5% during the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after purchasing an additional 19,279 shares in the last quarter. Magnus Financial Group LLC bought a new position in RumbleOn during the 2nd quarter valued at about $127,000. Finally, Dimensional Fund Advisors LP boosted its position in RumbleOn by 35.9% in the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after buying an additional 7,704 shares in the last quarter. Institutional investors own 66.14% of the company’s stock.

RumbleOn Company 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.