Magnus Financial Group LLC Reduces Stock Holdings in RumbleOn, Inc. (NASDAQ:RMBL)

Magnus Financial Group LLC trimmed its stake in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 78.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in RumbleOn by 1.7% in the third quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after purchasing an additional 3,061 shares during the period. Empowered Funds LLC increased its stake in shares of RumbleOn by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after acquiring an additional 3,350 shares during the last quarter. Dimensional Fund Advisors LP increased its position in RumbleOn by 35.9% during the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after purchasing an additional 7,704 shares during the last quarter. Barclays PLC raised its stake in RumbleOn by 278.7% during the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in RumbleOn by 249.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock valued at $114,000 after purchasing an additional 17,036 shares during the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

Analyst Upgrades and Downgrades

RMBL has been the subject of several recent analyst reports. DA Davidson reissued a “neutral” rating and set a $5.00 target price (down previously from $7.50) on shares of RumbleOn in a research note on Tuesday, January 14th. B. Riley downgraded shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research note on Friday, November 29th.

RumbleOn Price 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. The company has a fifty day simple moving average of $5.57 and a 200-day simple moving average of $4.87. RumbleOn, Inc. has a 12-month low of $3.13 and a 12-month high of $8.17.

RumbleOn (NASDAQ:RMBL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share 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 company had revenue of $295.00 million for the quarter, compared to analysts’ expectations of $302.76 million. During the same quarter in the prior year, the firm posted ($0.71) EPS. Equities analysts expect that RumbleOn, Inc. will post -0.87 EPS for the current fiscal year.

RumbleOn Company Profile

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.