JPMorgan Chase & Co. Buys 38,778 Shares of RumbleOn, Inc. (NASDAQ:RMBL)

JPMorgan Chase & Co. raised its position in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 162.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,657 shares of the company’s stock after purchasing an additional 38,778 shares during the period. JPMorgan Chase & Co. owned 0.18% of RumbleOn worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of RMBL. SG Americas Securities LLC purchased a new position in shares of RumbleOn during the 4th quarter valued at $58,000. Barclays PLC raised its stake in RumbleOn by 278.7% in the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after acquiring an additional 15,660 shares during the period. Bank of New York Mellon Corp lifted its holdings in RumbleOn by 18.8% during the fourth quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock valued at $208,000 after purchasing an additional 6,084 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in RumbleOn during the fourth quarter worth about $282,000. Finally, State Street Corp boosted its position in RumbleOn by 1.7% during the third quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after purchasing an additional 3,061 shares during the period. 66.14% of the stock is owned by hedge funds and other institutional investors.

RumbleOn Stock Up 7.6 %

Shares of NASDAQ:RMBL opened at $2.70 on Friday. The company has a market cap of $102.03 million, a price-to-earnings ratio of -0.32 and a beta of 2.15. RumbleOn, Inc. has a one year low of $1.95 and a one year high of $7.06. The firm has a fifty day moving average price of $3.02 and a two-hundred day moving average price of $4.44. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. DA Davidson dropped their price target on shares of RumbleOn from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Wedbush dropped their target price on RumbleOn from $5.50 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird reiterated a “neutral” rating and issued a $3.00 price target (down from $5.00) on shares of RumbleOn in a research report on Friday, April 4th. Finally, Baird R W cut RumbleOn from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.75.

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.