RMB Capital Management LLC Acquires New Position in Vroom, Inc. (NASDAQ:VRM)

RMB Capital Management LLC acquired a new stake in shares of Vroom, Inc. (NASDAQ:VRM) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 30,737 shares of the company’s stock, valued at approximately $1,198,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp grew its stake in Vroom by 0.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 244,870 shares of the company’s stock valued at $9,547,000 after acquiring an additional 870 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Vroom in the 1st quarter valued at approximately $212,000. Chilton Investment Co. LLC grew its stake in shares of Vroom by 34.4% in the 1st quarter. Chilton Investment Co. LLC now owns 713,094 shares of the company’s stock valued at $27,804,000 after buying an additional 182,437 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Vroom in the 1st quarter valued at approximately $241,000. Finally, New York State Common Retirement Fund grew its stake in shares of Vroom by 278.1% in the 1st quarter. New York State Common Retirement Fund now owns 119,100 shares of the company’s stock valued at $4,644,000 after buying an additional 87,600 shares during the period. 88.88% of the stock is owned by institutional investors.

Vroom stock opened at $42.73 on Friday. The firm has a market cap of $5.83 billion and a price-to-earnings ratio of -22.85. Vroom, Inc. has a 52-week low of $26.96 and a 52-week high of $75.49. The business’s 50 day simple moving average is $42.51.

Vroom (NASDAQ:VRM) last released its earnings results on Wednesday, May 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.05. The company had revenue of $591.12 million for the quarter, compared to analyst estimates of $511.75 million. Vroom had a negative net margin of 15.19% and a negative return on equity of 19.28%. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) EPS. On average, analysts anticipate that Vroom, Inc. will post -2.01 EPS for the current fiscal year.

VRM has been the subject of several analyst reports. Piper Sandler dropped their price target on shares of Vroom from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, May 13th. Stifel Nicolaus dropped their price target on shares of Vroom from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, March 4th. Truist dropped their price target on shares of Vroom from $58.00 to $54.00 in a research note on Thursday, March 4th. Jefferies Financial Group dropped their price target on shares of Vroom from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, March 4th. They noted that the move was a valuation call. Finally, Wells Fargo & Company increased their price objective on shares of Vroom from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $57.00.

In other news, major shareholder Lone Star L.P. Cgp2 sold 1,838,704 shares of the firm’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $43.76, for a total value of $80,461,687.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David K. Jones sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $38.68, for a total transaction of $386,800.00. Following the completion of the sale, the chief financial officer now owns 59,813 shares in the company, valued at $2,313,566.84. The disclosure for this sale can be found here. Insiders sold a total of 2,797,668 shares of company stock worth $117,364,201 over the last 90 days. Company insiders own 17.40% of the company’s stock.

Vroom Profile

Vroom, Inc operates an e-commerce platform for buying and selling of new and used cars in the United States. It also offers financing solutions. The company was formerly known as Auto America, Inc and changed its name to Vroom, Inc in July 2015. The company was incorporated in 2012 and is headquartered in New York, New York.

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Institutional Ownership by Quarter for Vroom (NASDAQ:VRM)

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