Alpha Paradigm Partners LLC Takes $302,000 Position in RumbleON, Inc. (NASDAQ:RMBL)

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.

RumbleON (NASDAQ:RMBL) last released its quarterly earnings data on Sunday, August 1st. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.84). RumbleON had a negative net margin of 2.57% and a negative return on equity of 84.44%. The business had revenue of $168.35 million during the quarter. On average, equities research analysts expect that RumbleON, Inc. will post 3.78 EPS for the current year.

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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Institutional Ownership by Quarter for RumbleON (NASDAQ:RMBL)

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