RumbleOn, Inc. (NASDAQ:RMBL) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 5.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 66,150 shares of the company’s stock after purchasing an additional 3,350 shares during the quarter. Empowered Funds LLC’s holdings in RumbleOn were worth $317,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RMBL. Rhumbline Advisers lifted its position 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 buying an additional 19,279 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of RumbleOn in the 1st quarter worth $90,000. Dimensional Fund Advisors LP raised its holdings in shares of RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after acquiring an additional 7,704 shares during the period. Magnus Financial Group LLC acquired a new position in shares of RumbleOn during the 2nd quarter valued at about $127,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of RumbleOn during the 2nd quarter valued at about $182,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RumbleOn Stock Performance

Shares of RumbleOn stock opened at $5.68 on Tuesday. The business’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $4.80. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The firm has a market cap of $200.90 million, a PE ratio of -0.67 and a beta of 2.08. RumbleOn, Inc. has a 52 week low of $3.13 and a 52 week high of $8.84.

RumbleOn (NASDAQ:RMBL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). RumbleOn had a negative net margin of 15.25% and a negative return on equity of 122.45%. The company had revenue of $295.00 million during the quarter, compared to analyst estimates of $302.76 million. During the same period in the previous year, the company earned ($0.71) EPS. Equities analysts forecast that RumbleOn, Inc. will post -0.87 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. B. Riley cut their price objective on shares of RumbleOn from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Wedbush cut their price target on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a 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.