Alpha Paradigm Partners LLC purchased a new stake in RumbleON, Inc. (NASDAQ:RMBL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,456 shares of the company’s stock, valued at approximately $302,000.
Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in RumbleON by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 12,676 shares of the company’s stock worth $556,000 after buying an additional 324 shares in the last quarter. Morgan Stanley increased its stake in RumbleON by 99.8% during the 1st quarter. Morgan Stanley now owns 2,398 shares of the company’s stock worth $105,000 after buying an additional 1,198 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in RumbleON by 15.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 13,266 shares of the company’s stock worth $537,000 after buying an additional 1,799 shares in the last quarter. Geode Capital Management LLC increased its stake in RumbleON by 26.9% during the 1st quarter. Geode Capital Management LLC now owns 13,771 shares of the company’s stock worth $603,000 after buying an additional 2,918 shares in the last quarter. Finally, Potrero Capital Research LLC purchased a new stake in RumbleON during the 1st quarter worth approximately $208,000. Hedge funds and other institutional investors own 41.59% of the company’s stock.
RMBL stock opened at $37.24 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.87 and a quick ratio of 1.40. The business has a 50 day simple moving average of $35.81 and a 200-day simple moving average of $37.64. The firm has a market capitalization of $557.97 million, a PE ratio of -7.86 and a beta of 2.90. RumbleON, Inc. has a 1 year low of $27.50 and a 1 year high of $64.13.
In other RumbleON news, Director Adam Alexander acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The shares were purchased at an average cost of $36.84 per share, for a total transaction of $36,840.00. Following the completion of the acquisition, the director now owns 15,977 shares of the company’s stock, valued at approximately $588,592.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denmar John Dixon acquired 13,636 shares of the firm’s stock in a transaction that occurred on Tuesday, August 31st. The stock was acquired at an average price of $33.00 per share, for a total transaction of $449,988.00. The disclosure for this purchase can be found here. Corporate insiders own 15.65% of the company’s stock.
Several equities research analysts have commented on the company. B. Riley reiterated a “buy” rating and set a $70.00 price objective on shares of RumbleON in a research note on Thursday, October 7th. Wedbush assumed coverage on RumbleON in a research report on Tuesday, September 14th. They issued an “outperform” rating and a $55.00 price target for the company. Finally, Robert W. Baird assumed coverage on RumbleON in a research report on Thursday, September 2nd. They issued an “outperform” rating and a $42.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, RumbleON currently has a consensus rating of “Buy” and a consensus target price of $55.50.
RumbleON Company Profile
RumbleOn, Inc engages in the provision of motor vehicle dealer and e-commerce platform. It operates through the following segments: Powersports; Automotive; and Vehicle Logistics and Transportation. The Powersports segment distributes pre-owned motorcycles and powersports vehicles. The Automotive segment focuses on the distribution of pre-owned cars and trucks.
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