RumbleOn, Inc. (NASDAQ:RMBL) Shares Bought by Bank of America Corp DE

Bank of America Corp DE grew its stake in shares of RumbleOn, Inc. (NASDAQ:RMBL) by 39.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,155 shares of the company’s stock after acquiring an additional 7,383 shares during the quarter. Bank of America Corp DE owned about 0.07% of RumbleOn worth $142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RMBL. Prescott Group Capital Management L.L.C. acquired a new position in shares of RumbleOn during the 4th quarter valued at about $282,000. JPMorgan Chase & Co. grew its holdings in shares of RumbleOn by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company’s stock worth $340,000 after purchasing an additional 38,778 shares during the period. Geode Capital Management LLC grew its holdings in shares of RumbleOn by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 475,315 shares of the company’s stock worth $2,581,000 after purchasing an additional 32,987 shares during the period. Northern Trust Corp grew its holdings in shares of RumbleOn by 8.4% during the 4th quarter. Northern Trust Corp now owns 146,387 shares of the company’s stock worth $795,000 after purchasing an additional 11,395 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of RumbleOn during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

RumbleOn Stock Up 5.7%

NASDAQ RMBL opened at $2.05 on Tuesday. The stock has a market cap of $77.47 million, a PE ratio of -0.24 and a beta of 1.56. RumbleOn, Inc. has a fifty-two week low of $1.46 and a fifty-two week high of $7.06. The business has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $3.66. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52.

RumbleOn (NASDAQ:RMBL) last announced its earnings results on Wednesday, May 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of $244.70 million for the quarter. RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. As a group, sell-side analysts predict that RumbleOn, Inc. will post -0.89 EPS for the current fiscal year.

Analyst Ratings Changes

RMBL has been the subject of a number of research reports. Robert W. Baird reiterated a “neutral” rating and set a $3.00 target price (down previously from $5.00) on shares of RumbleOn in a report on Friday, April 4th. DA Davidson decreased their target price on RumbleOn from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Baird R W cut RumbleOn from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Wedbush decreased their target price on RumbleOn from $5.50 to $5.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.50.

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.