RumbleON (OTCMKTS:RMBL) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of RumbleON (OTCMKTS:RMBL) from a hold rating to a sell rating in a research note issued to investors on Saturday, reports.

According to Zacks, “RumbleON, Inc. provides internet based services. The Company operates an e-commerce platform for consumers and dealers to buy, sell, trade and finance pre-owned recreation vehicles. It primarily focuses on pre-owned Harley Davidson motorcycles. RumbleON, Inc. is based in Charlotte, North Carolina. “

A number of other brokerages also recently weighed in on RMBL. National Securities reiterated a buy rating and issued a $9.50 price target on shares of RumbleON in a report on Wednesday, May 15th. JMP Securities started coverage on RumbleON in a report on Tuesday, July 30th. They issued an outperform rating and a $10.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $10.90.

Shares of OTCMKTS RMBL opened at $3.66 on Friday. RumbleON has a twelve month low of $3.49 and a twelve month high of $10.98. The business has a 50 day simple moving average of $4.32 and a 200-day simple moving average of $4.80.

RumbleON (OTCMKTS:RMBL) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.15). The firm had revenue of $270.18 million during the quarter, compared to analyst estimates of $233.97 million.

In other news, Chairman Marshall Chesrown acquired 8,844 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $4.26 per share, for a total transaction of $37,675.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denmar John Dixon acquired 10,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $4.84 per share, with a total value of $48,400.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 96,450 shares of company stock valued at $395,742 in the last quarter.

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of RumbleON in the fourth quarter valued at $60,000. Carlson Capital Management acquired a new stake in shares of RumbleON in the first quarter valued at $90,000. Delta Investment Management LLC acquired a new stake in shares of RumbleON in the second quarter valued at $89,000. JPMorgan Chase & Co. acquired a new stake in shares of RumbleON in the second quarter valued at $101,000. Finally, Spark Investment Management LLC lifted its holdings in shares of RumbleON by 44.5% in the first quarter. Spark Investment Management LLC now owns 55,641 shares of the company’s stock valued at $274,000 after buying an additional 17,141 shares during the period.

RumbleON Company Profile

RumbleON, Inc (RumbleON), formerly Smart Server Inc, is a development-stage company. The Company focuses on creating an e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell-Trade-Finance pre-owned recreation vehicles (RV). Serving both consumers and dealers, RumbleON makes such consumers or dealers a cash offer for the purchase of their vehicle.

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