JPMorgan Chase & Co. Acquires 17,036 Shares of RumbleOn, Inc. (NASDAQ:RMBL)

JPMorgan Chase & Co. increased its holdings in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 249.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,879 shares of the company’s stock after buying an additional 17,036 shares during the quarter. JPMorgan Chase & Co. owned 0.07% of RumbleOn worth $114,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RMBL. Citigroup Inc. boosted its position in RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after buying an additional 1,697,885 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of RumbleOn by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock valued at $2,119,000 after acquiring an additional 35,536 shares during the last quarter. State Street Corp boosted its holdings in shares of RumbleOn by 1.7% during the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after acquiring an additional 3,061 shares in the last quarter. Magnus Financial Group LLC grew its position in RumbleOn by 146.8% during the 3rd quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after acquiring an additional 45,500 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in RumbleOn by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after purchasing an additional 3,350 shares in the last quarter. 66.14% of the stock is owned by institutional investors and hedge funds.

RumbleOn Trading Down 2.7 %

NASDAQ RMBL opened at $4.35 on Monday. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. RumbleOn, Inc. has a 52 week low of $3.13 and a 52 week high of $8.17. The business has a 50 day moving average price of $5.39 and a 200-day moving average price of $4.90. The company has a market cap of $153.86 million, a price-to-earnings ratio of -0.52 and a beta of 2.31.

RumbleOn (NASDAQ:RMBL) last posted its earnings results 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). The firm had revenue of $295.00 million during 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 company earned ($0.71) EPS. As a group, equities analysts expect that RumbleOn, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on RMBL. DA Davidson restated a “neutral” rating and set a $5.00 price target (down from $7.50) on shares of RumbleOn in a report on Tuesday, January 14th. B. Riley lowered shares of 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.

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.