RumbleOn, Inc. (NASDAQ:RMBL) Stock Position Lessened by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC decreased its holdings in RumbleOn, Inc. (NASDAQ:RMBL) by 64.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,840 shares of the company’s stock after selling 63,941 shares during the quarter. Bridgeway Capital Management LLC owned 0.10% of RumbleOn worth $189,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of RumbleOn by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 475,315 shares of the company’s stock worth $2,581,000 after purchasing an additional 32,987 shares in the last quarter. Northern Trust Corp grew its stake in shares of RumbleOn by 8.4% in the fourth quarter. Northern Trust Corp now owns 146,387 shares of the company’s stock worth $795,000 after purchasing an additional 11,395 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of RumbleOn by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company’s stock worth $340,000 after purchasing an additional 38,778 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of RumbleOn in the fourth quarter worth $282,000. Finally, Bank of New York Mellon Corp grew its stake in shares of RumbleOn by 18.8% in the fourth quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock worth $208,000 after purchasing an additional 6,084 shares in the last quarter. Institutional investors own 66.14% of the company’s stock.

RumbleOn Trading Up 2.3%

NASDAQ:RMBL opened at $2.62 on Wednesday. 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 1-year low of $1.95 and a 1-year high of $7.06. The firm has a market capitalization of $99.00 million, a price-to-earnings ratio of -0.31 and a beta of 1.75. The stock has a fifty day simple moving average of $2.81 and a 200 day simple moving average of $4.31.

RumbleOn (NASDAQ:RMBL) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.26) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.26). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The business had revenue of $244.70 million during the quarter. Sell-side analysts forecast that RumbleOn, Inc. will post -0.89 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wedbush decreased their target price on RumbleOn from $5.50 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Baird R W cut RumbleOn from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird reaffirmed a “neutral” rating and set a $3.00 target price (down previously from $5.00) on shares of RumbleOn in a research note on Friday, April 4th. Finally, DA Davidson decreased their target price on RumbleOn from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.50.

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.