State Street Corp Purchases 3,061 Shares of RumbleOn, Inc. (NASDAQ:RMBL)

State Street Corp raised its position in RumbleOn, Inc. (NASDAQ:RMBL) by 1.7% in the third quarter, HoldingsChannel.com reports. The fund owned 181,190 shares of the company’s stock after purchasing an additional 3,061 shares during the quarter. State Street Corp’s holdings in RumbleOn were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Citigroup Inc. lifted its stake in RumbleOn by 46,928.8% in the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after purchasing an additional 1,697,885 shares during the last quarter. Magnus Financial Group LLC increased its position in RumbleOn by 146.8% during the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after buying an additional 45,500 shares during the last quarter. Empowered Funds LLC raised its stake in RumbleOn by 5.3% in the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after buying an additional 3,350 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of RumbleOn in the second quarter valued at approximately $182,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of 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 during the last quarter. Institutional investors own 66.14% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley lowered RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Friday, November 29th.

RumbleOn Stock Performance

NASDAQ RMBL opened at $5.28 on Friday. The stock has a market cap of $186.76 million, a PE ratio of -0.63 and a beta of 2.23. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The firm has a 50-day moving average of $5.76 and a 200-day moving average of $4.84. RumbleOn, Inc. has a 52-week low of $3.13 and a 52-week high of $8.31.

RumbleOn (NASDAQ:RMBL) last issued 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 analyst estimates of $302.76 million. During the same quarter last year, the business earned ($0.71) earnings per share. On average, sell-side analysts anticipate that RumbleOn, Inc. will post -0.87 EPS for the current year.

About RumbleOn

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.