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

Empowered Funds LLC raised its stake in RumbleOn, Inc. (NASDAQ:RMBL) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,150 shares of the company’s stock after acquiring an additional 3,350 shares during the quarter. Empowered Funds LLC owned approximately 0.19% of RumbleOn worth $317,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after purchasing an additional 19,279 shares during the period. Magnus Financial Group LLC increased its holdings in RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock valued at $366,000 after buying an additional 45,500 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of RumbleOn in the first quarter worth about $90,000. Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of RumbleOn during the 2nd quarter worth about $182,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RMBL. Wedbush reduced their price target on RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. B. Riley cut their price objective on RumbleOn from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

RumbleOn Stock Down 10.3 %

RMBL stock opened at $5.68 on Tuesday. RumbleOn, Inc. has a 52 week low of $3.13 and a 52 week high of $8.84. 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 50-day simple moving average of $5.14 and a 200-day simple moving average of $4.80. The stock has a market capitalization of $200.90 million, a P/E ratio of -0.67 and a beta of 2.08.

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

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.