Magnus Financial Group LLC Acquires 45,500 Shares of RumbleOn, Inc. (NASDAQ:RMBL)

Magnus Financial Group LLC raised its holdings in RumbleOn, Inc. (NASDAQ:RMBL) by 146.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 76,500 shares of the company’s stock after purchasing an additional 45,500 shares during the quarter. Magnus Financial Group LLC’s holdings in RumbleOn were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RMBL. Empowered Funds LLC raised its stake in RumbleOn by 8.1% in the 1st quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock valued at $377,000 after acquiring an additional 4,375 shares during the period. Rhumbline Advisers boosted its position in RumbleOn by 3,910.5% during the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after purchasing an additional 19,279 shares during the period. Cannon Global Investment Management LLC acquired a new position in shares of RumbleOn in the first quarter valued at $65,000. Virtu Financial LLC bought a new position in shares of RumbleOn in the first quarter valued at about $90,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after buying an additional 7,704 shares during the last quarter. 66.14% of the stock is owned by institutional investors and hedge funds.

RumbleOn Stock Performance

Shares of NASDAQ RMBL opened at $5.79 on Wednesday. RumbleOn, Inc. has a one year low of $3.13 and a one year high of $8.84. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.12 and a quick ratio of 0.27. The firm has a market cap of $204.14 million, a price-to-earnings ratio of -0.58 and a beta of 2.09. The stock’s fifty day moving average price is $4.35 and its two-hundred day moving average price is $4.81.

RumbleOn (NASDAQ:RMBL) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). RumbleOn had a negative return on equity of 98.94% and a negative net margin of 15.15%. The business had revenue of $336.80 million for the quarter, compared to the consensus estimate of $386.05 million. During the same period in the prior year, the business posted $0.02 earnings per share. On average, equities analysts forecast that RumbleOn, Inc. will post -0.55 EPS for the current year.

Analyst Ratings Changes

Separately, Wedbush decreased their price target on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th.

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.