Union Square Park Capital Management LLC Purchases Shares of 1,587,491 RideNow Group, Inc. $RDNW

Union Square Park Capital Management LLC purchased a new stake in shares of RideNow Group, Inc. (NASDAQ:RDNW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,587,491 shares of the company’s stock, valued at approximately $8,763,000. RideNow Group accounts for 4.2% of Union Square Park Capital Management LLC’s holdings, making the stock its 4th largest position. Union Square Park Capital Management LLC owned about 4.18% of RideNow Group at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JB Capital Partners LP purchased a new stake in RideNow Group during the fourth quarter valued at about $386,000. Hudson Bay Capital Management LP purchased a new stake in RideNow Group during the fourth quarter valued at about $118,000. Goldman Sachs Group Inc. purchased a new stake in RideNow Group during the fourth quarter valued at about $406,000. First Financial Bankshares Inc purchased a new stake in RideNow Group during the fourth quarter valued at about $554,000. Finally, Deutsche Bank AG purchased a new stake in RideNow Group during the fourth quarter valued at about $1,004,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RideNow Group Trading Down 3.3%

Shares of NASDAQ:RDNW opened at $7.55 on Wednesday. The company has a market cap of $291.35 million, a price-to-earnings ratio of -6.09 and a beta of 1.15. The company has a 50-day moving average price of $7.38 and a 200-day moving average price of $6.44. RideNow Group, Inc. has a 12 month low of $1.91 and a 12 month high of $8.55.

RideNow Group (NASDAQ:RDNW) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.11) EPS for the quarter. The firm had revenue of $260.40 million for the quarter. RideNow Group had a negative net margin of 4.28% and a negative return on equity of 2,628.57%.

Wall Street Analysts Forecast Growth

RDNW has been the subject of several analyst reports. Wall Street Zen lowered shares of RideNow Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Robert W. Baird upped their price objective on shares of RideNow Group from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. DA Davidson reaffirmed a “neutral” rating and set a $6.00 price objective on shares of RideNow Group in a research note on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RideNow Group in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.50.

About RideNow Group

RideNow Group, Inc (NASDAQ: RDNW) is a leading U.S. retailer of powersports vehicles, offering both new and pre-owned inventory to enthusiasts and recreational riders. The company’s dealerships carry a diverse lineup of motorcycles, all-terrain vehicles (ATVs), side-by-sides, personal watercraft and snowmobiles from major manufacturers. In addition to vehicle sales, RideNow Group provides comprehensive service and maintenance, aftermarket parts and accessories and a range of financing and protection plans tailored to powersports customers.

Founded in 2004 and headquartered in Houston, Texas, RideNow Group has grown through a combination of organic expansion and strategic acquisitions.