Shares of RumbleON, Inc. (NASDAQ:RMBL) have been assigned a consensus recommendation of “Buy” from the six analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $59.40.
A number of research analysts recently weighed in on the company. Wedbush assumed coverage on RumbleON in a research note on Tuesday, September 14th. They issued an “outperform” rating and a $55.00 price objective on the stock. Robert W. Baird initiated coverage on RumbleON in a research report on Thursday, September 2nd. They issued an “outperform” rating and a $42.00 price target on the stock. Finally, B. Riley initiated coverage on RumbleON in a research report on Thursday, September 2nd. They issued a “buy” rating and a $70.00 price target on the stock.
Shares of RMBL stock traded up $0.82 during trading on Tuesday, reaching $34.27. The company had a trading volume of 1,050 shares, compared to its average volume of 69,864. The firm’s 50 day simple moving average is $36.11 and its two-hundred day simple moving average is $38.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.87 and a quick ratio of 1.40. RumbleON has a one year low of $25.38 and a one year high of $64.13. The company has a market capitalization of $513.47 million, a PE ratio of -7.06 and a beta of 2.90.
In related news, Director Denmar John Dixon purchased 13,636 shares of the firm’s stock in a transaction that occurred on Tuesday, August 31st. The shares were acquired at an average price of $33.00 per share, with a total value of $449,988.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adam Alexander purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The stock was bought at an average cost of $36.84 per share, for a total transaction of $36,840.00. Following the purchase, the director now owns 15,977 shares in the company, valued at $588,592.68. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 16,136 shares of company stock worth $545,928. 15.65% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Morgan Stanley boosted its stake in RumbleON by 99.8% in the first quarter. Morgan Stanley now owns 2,398 shares of the company’s stock worth $105,000 after purchasing an additional 1,198 shares in the last quarter. Potrero Capital Research LLC acquired a new position in RumbleON in the first quarter worth $208,000. Millennium Management LLC acquired a new position in RumbleON in the second quarter worth $233,000. Northern Trust Corp acquired a new position in RumbleON in the second quarter worth $259,000. Finally, Quadrature Capital Ltd bought a new stake in shares of RumbleON during the first quarter worth $280,000. 41.59% of the stock is currently owned by institutional investors.
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.
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