Bank of New York Mellon Corp Has $208,000 Stake in RumbleOn, Inc. (NASDAQ:RMBL)

Bank of New York Mellon Corp raised its stake in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 18.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 38,380 shares of the company’s stock after purchasing an additional 6,084 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of RumbleOn worth $208,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp raised its stake in RumbleOn by 1.7% during the third quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after acquiring an additional 3,061 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of RumbleOn in the 4th quarter valued at $58,000. Barclays PLC grew its holdings in shares of RumbleOn by 278.7% in the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of RumbleOn by 249.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock worth $114,000 after purchasing an additional 17,036 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in RumbleOn by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock valued at $2,119,000 after purchasing an additional 35,536 shares during the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

RumbleOn Price Performance

Shares of RMBL stock opened at $2.81 on Friday. The firm’s 50 day moving average price is $4.01 and its two-hundred day moving average price is $4.85. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. RumbleOn, Inc. has a 52-week low of $2.80 and a 52-week high of $7.06. The stock has a market cap of $106.18 million, a PE ratio of -0.33 and a beta of 2.17.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wedbush reduced their target price on RumbleOn from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Robert W. Baird decreased their target price on RumbleOn from $8.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Finally, DA Davidson decreased their target price on RumbleOn from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th.

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.