Citigroup Inc. Increases Stock Holdings in RumbleOn, Inc. (NASDAQ:RMBL)

Citigroup Inc. boosted its position in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 46,928.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,701,503 shares of the company’s stock after purchasing an additional 1,697,885 shares during the period. Citigroup Inc.’s holdings in RumbleOn were worth $8,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Magnus Financial Group LLC boosted its holdings in RumbleOn by 146.8% in the 3rd quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock valued at $366,000 after purchasing an additional 45,500 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of RumbleOn in the second quarter worth $182,000. Rhumbline Advisers boosted its stake in RumbleOn by 3,910.5% during the second 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. Virtu Financial LLC purchased a new position in RumbleOn during the first quarter worth about $90,000. Finally, Dimensional Fund Advisors LP grew 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 buying an additional 7,704 shares in the last quarter. Institutional investors own 66.14% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBL has been the topic of several recent analyst reports. B. Riley cut RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday. Wedbush lowered their target price on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th.

RumbleOn Stock Down 2.4 %

RMBL opened at $6.83 on Friday. The business’s fifty day simple moving average is $5.31 and its 200 day simple moving average is $4.84. RumbleOn, Inc. has a 52 week low of $3.13 and a 52 week high of $8.84. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The stock has a market cap of $241.58 million, a PE ratio of -0.81 and a beta of 2.08.

RumbleOn (NASDAQ:RMBL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $295.00 million for the quarter, compared to the consensus estimate of $302.76 million. RumbleOn had a negative net margin of 15.25% and a negative return on equity of 122.45%. During the same quarter last year, the company posted ($0.71) earnings per share. As a group, research analysts expect that RumbleOn, Inc. will post -0.87 earnings per share 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.