Magnus Financial Group LLC Trims Position in RumbleOn, Inc. (NASDAQ:RMBL)

Magnus Financial Group LLC cut its stake in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 78.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,549 shares of the company’s stock after selling 59,951 shares during the period. Magnus Financial Group LLC’s holdings in RumbleOn were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in RMBL. Rhumbline Advisers lifted its holdings in shares of RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after buying an additional 19,279 shares during the period. Barclays PLC increased its position in RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of RumbleOn by 249.0% in the third quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock valued at $114,000 after buying an additional 17,036 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after acquiring an additional 7,704 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in RumbleOn in the second quarter valued at $182,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. B. Riley downgraded shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Friday, November 29th. DA Davidson reissued a “neutral” rating and set a $5.00 price target (down from $7.50) on shares of RumbleOn in a research report on Tuesday, January 14th.

RumbleOn Stock Performance

RumbleOn stock opened at $4.57 on Friday. The stock has a market cap of $161.64 million, a P/E ratio of -0.54 and a beta of 2.31. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. RumbleOn, Inc. has a 52 week low of $3.13 and a 52 week high of $8.17. The stock has a 50 day moving average of $5.57 and a 200-day moving average of $4.87.

RumbleOn (NASDAQ:RMBL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The firm had revenue of $295.00 million during the quarter, compared to analyst estimates of $302.76 million. During the same quarter in the previous year, the business posted ($0.71) EPS. On average, analysts expect that RumbleOn, Inc. will post -0.87 EPS for the current fiscal year.

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.