RumbleON (NASDAQ:RMBL) Trading 6.1% Higher

RumbleON, Inc. (NASDAQ:RMBL)’s share price traded up 6.1% on Thursday . The stock traded as high as $39.50 and last traded at $39.50. 515 shares were traded during mid-day trading, a decline of 99% from the average session volume of 69,885 shares. The stock had previously closed at $37.24.

Several research analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of RumbleON in a report on Thursday, September 2nd. They issued an “outperform” rating and a $42.00 price target on the stock. DA Davidson assumed coverage on shares of RumbleON in a report on Thursday. They issued a “buy” rating and a $47.00 price target on the stock. Wedbush started coverage on shares of RumbleON in a report on Tuesday, September 14th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, B. Riley restated a “buy” rating and set a $70.00 target price on shares of RumbleON in a research report on Thursday, October 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $54.29.

The stock’s 50-day simple moving average is $35.81 and its 200-day simple moving average is $37.64. The stock has a market cap of $581.64 million, a price-to-earnings ratio of -8.16 and a beta of 2.90. The company has a current ratio of 1.87, a quick ratio of 1.40 and a debt-to-equity ratio of 0.91.

RumbleON (NASDAQ:RMBL) last posted its quarterly earnings results on Sunday, August 1st. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.84). The firm had revenue of $168.35 million for the quarter. RumbleON had a negative return on equity of 84.44% and a negative net margin of 2.57%. On average, equities research analysts forecast that RumbleON, Inc. will post 3.78 earnings per share for the current year.

In other news, Director Denmar John Dixon purchased 13,636 shares of RumbleON stock in a transaction that occurred on Tuesday, August 31st. The shares were acquired at an average price of $33.00 per share, for a total transaction of $449,988.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Adam Alexander acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The stock was bought at an average cost of $36.84 per share, with a total value of $36,840.00. Following the purchase, the director now owns 15,977 shares in the company, valued at $588,592.68. The disclosure for this purchase can be found here. Company insiders own 15.65% of the company’s stock.

Large investors have recently modified their holdings of the stock. Morgan Stanley lifted its stake in RumbleON by 99.8% in the 1st quarter. Morgan Stanley now owns 2,398 shares of the company’s stock valued at $105,000 after purchasing an additional 1,198 shares during the last quarter. Potrero Capital Research LLC bought a new position in RumbleON in the 1st quarter valued at approximately $208,000. Millennium Management LLC bought a new position in RumbleON in the 2nd quarter valued at approximately $233,000. Northern Trust Corp bought a new position in shares of RumbleON during the second quarter valued at $259,000. Finally, Quadrature Capital Ltd bought a new position in shares of RumbleON during the first quarter valued at $280,000. 41.59% of the stock is owned by institutional investors and hedge funds.

RumbleON Company Profile (NASDAQ:RMBL)

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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