Geode Capital Management LLC Has $2.12 Million Stake in RumbleOn, Inc. (NASDAQ:RMBL)

Geode Capital Management LLC raised its stake in RumbleOn, Inc. (NASDAQ:RMBL) by 8.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 442,328 shares of the company’s stock after purchasing an additional 35,536 shares during the quarter. Geode Capital Management LLC owned 1.25% of RumbleOn worth $2,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Rhumbline Advisers grew its holdings 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. Barclays PLC boosted its holdings in RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after acquiring an additional 15,660 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 last quarter. Bank of New York Mellon Corp bought a new stake in shares of RumbleOn in the 2nd quarter worth $182,000. Finally, Empowered Funds LLC raised its holdings in shares of 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 purchasing an additional 3,350 shares during the last quarter. Institutional investors own 66.14% of the company’s stock.

Analysts Set New Price Targets

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

RumbleOn Stock Performance

Shares of RumbleOn stock opened at $4.88 on Wednesday. The business’s fifty day simple moving average is $5.76 and its 200 day simple moving average is $4.84. 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, Inc. has a 12 month low of $3.13 and a 12 month high of $8.31. The firm has a market capitalization of $172.61 million, a P/E ratio of -0.58 and a beta of 2.31.

RumbleOn (NASDAQ:RMBL) last released 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). The business had revenue of $295.00 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned ($0.71) earnings per share. As a group, analysts anticipate that RumbleOn, Inc. will post -0.87 EPS for the current year.

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.