Shares of RumbleON, Inc. (NASDAQ:RMBL) have received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $57.33.
RMBL has been the subject of several recent analyst reports. DA Davidson initiated coverage on RumbleON in a research note on Thursday. They issued a “buy” rating and a $47.00 price target for the company. Robert W. Baird assumed coverage on RumbleON in a research note on Thursday, September 2nd. They set an “outperform” rating and a $42.00 target price for the company. B. Riley reaffirmed a “buy” rating and set a $70.00 target price on shares of RumbleON in a research note on Thursday, October 7th. Finally, Wedbush assumed coverage on RumbleON in a report on Tuesday, September 14th. They set an “outperform” rating and a $55.00 target price for the company.
Shares of NASDAQ:RMBL traded up $1.99 on Friday, hitting $39.23. The company’s stock had a trading volume of 2,525 shares, compared to its average volume of 69,885. RumbleON has a 12 month low of $27.50 and a 12 month high of $64.13. The company has a market capitalization of $587.78 million, a price-to-earnings ratio of -8.27 and a beta of 2.90. The stock’s 50-day moving average is $35.81 and its two-hundred day moving average is $37.64. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.40 and a current ratio of 1.87.
In other news, Director Adam Alexander purchased 1,000 shares of the business’s stock in a transaction dated Friday, September 3rd. The stock was bought at an average cost of $36.84 per share, with a total value of $36,840.00. Following the purchase, the director now directly owns 15,977 shares of the company’s stock, valued at $588,592.68. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Denmar John Dixon acquired 13,636 shares of the stock in a transaction dated Tuesday, August 31st. The shares were bought at an average cost of $33.00 per share, for a total transaction of $449,988.00. The disclosure for this purchase can be found here. 15.65% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ophir Asset Management Pty Ltd bought a new stake in shares of RumbleON in the 2nd quarter worth approximately $9,925,000. ACK Asset Management LLC bought a new stake in shares of RumbleON in the 2nd quarter worth approximately $8,300,000. Silverback Asset Management LLC lifted its position in shares of RumbleON by 59.9% in the 2nd quarter. Silverback Asset Management LLC now owns 261,989 shares of the company’s stock worth $10,603,000 after acquiring an additional 98,119 shares during the period. Vanguard Group Inc. lifted its position in shares of RumbleON by 91.1% in the 2nd quarter. Vanguard Group Inc. now owns 128,374 shares of the company’s stock worth $5,195,000 after acquiring an additional 61,186 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of RumbleON in the 2nd quarter worth approximately $1,416,000. 41.59% of the stock is currently owned by hedge funds and other institutional investors.
RumbleON Company Profile
RumbleOn, Inc engages in the provision of motor vehicle dealer and e-commerce platform. It operates through the following segments: Powersports; Automotive; and Vehicle Logistics and Transportation. The Powersports segment distributes pre-owned motorcycles and powersports vehicles. The Automotive segment focuses on the distribution of pre-owned cars and trucks.
Featured Article: Fiduciary
Receive News & Ratings for RumbleON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RumbleON and related companies with MarketBeat.com's FREE daily email newsletter.