RumbleOn, Inc. (NASDAQ:RMBL) Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its position in RumbleOn, Inc. (NASDAQ:RMBL - Free Report) by 46,928.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,701,503 shares of the company's stock after purchasing an additional 1,697,885 shares during the period. Citigroup Inc. owned approximately 4.82% of RumbleOn worth $8,150,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RMBL. Empowered Funds LLC boosted its position in RumbleOn by 5.3% in the third quarter. Empowered Funds LLC now owns 66,150 shares of the company's stock valued at $317,000 after buying an additional 3,350 shares during the last quarter. Magnus Financial Group LLC boosted its holdings in shares of RumbleOn by 146.8% in the 3rd quarter. Magnus Financial Group LLC now owns 76,500 shares of the company's stock valued at $366,000 after acquiring an additional 45,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company's stock valued at $120,000 after acquiring an additional 7,704 shares during the last quarter. Rhumbline Advisers increased its stake in shares of RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company's stock worth $81,000 after acquiring an additional 19,279 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of RumbleOn during the second quarter worth $182,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. B. Riley downgraded RumbleOn from a "buy" rating to a "neutral" rating and set a $7.00 price target on the stock. in a research report on Friday. Wedbush dropped their target price on RumbleOn from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th.

RumbleOn Stock Down 2.4 %

RMBL stock opened at $6.83 on Friday. 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 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The firm's fifty day moving average is $5.31 and its 200 day moving average is $4.84. The firm has a market cap of $241.58 million, a PE ratio of -0.81 and a beta of 2.08.

RumbleOn (NASDAQ:RMBL - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The firm had revenue of $295.00 million for the quarter, compared to analysts' expectations of $302.76 million. During the same period in the previous year, the company earned ($0.71) earnings per share. On average, research analysts forecast that RumbleOn, Inc. will post -0.87 EPS for the current year.

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.