Geode Capital Management LLC Buys 32,987 Shares of RumbleOn, Inc. (NASDAQ:RMBL)

Geode Capital Management LLC increased its stake in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,315 shares of the company’s stock after buying an additional 32,987 shares during the quarter. Geode Capital Management LLC owned 1.34% of RumbleOn worth $2,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prescott Group Capital Management L.L.C. purchased a new stake in shares of RumbleOn in the fourth quarter valued at about $282,000. JPMorgan Chase & Co. boosted its stake in shares of RumbleOn by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company’s stock worth $340,000 after buying an additional 38,778 shares during the last quarter. Barclays PLC grew its holdings in shares of RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after acquiring an additional 15,660 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of RumbleOn during the fourth quarter valued at approximately $58,000. Finally, Bank of New York Mellon Corp boosted its position in 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 during the last quarter. 66.14% of the stock is owned by hedge funds and other institutional investors.

RumbleOn Trading Up 2.5 %

Shares of RMBL stock opened at $2.46 on Tuesday. The stock has a market capitalization of $92.96 million, a price-to-earnings ratio of -0.29 and a beta of 2.15. The company’s fifty day simple moving average is $3.15 and its two-hundred day simple moving average is $4.51. RumbleOn, Inc. has a 1 year low of $1.95 and a 1 year high of $7.06. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RMBL shares. Robert W. Baird reissued a “neutral” rating and issued a $3.00 price target (down from $5.00) on shares of RumbleOn in a report on Friday, April 4th. Wedbush decreased their price target on shares of 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 downgraded RumbleOn from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, DA Davidson decreased their target price on RumbleOn from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.75.

RumbleOn 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.