Magnus Financial Group LLC Sells 59,951 Shares of RumbleOn, Inc. (NASDAQ:RMBL)

Magnus Financial Group LLC reduced its position in shares of RumbleOn, Inc. (NASDAQ:RMBL - Free Report) by 78.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,549 shares of the company's stock after selling 59,951 shares during the quarter. Magnus Financial Group LLC's holdings in RumbleOn were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of RumbleOn by 3,910.5% during the second quarter. Rhumbline Advisers now owns 19,772 shares of the company's stock valued at $81,000 after acquiring an additional 19,279 shares in the last quarter. Barclays PLC boosted its holdings in RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company's stock valued at $102,000 after acquiring an additional 15,660 shares in the last quarter. JPMorgan Chase & Co. increased its position in RumbleOn by 249.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company's stock valued at $114,000 after purchasing an additional 17,036 shares during the period. Dimensional Fund Advisors LP raised its holdings in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company's stock worth $120,000 after purchasing an additional 7,704 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of RumbleOn in the 2nd quarter worth about $182,000. Hedge funds and other institutional investors own 66.14% of the company's stock.

RumbleOn Stock Up 4.8 %

Shares of NASDAQ RMBL traded up $0.22 during trading on Friday, reaching $4.79. The company had a trading volume of 55,940 shares, compared to its average volume of 98,141. The business's 50-day moving average is $5.55 and its 200 day moving average is $4.88. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The stock has a market cap of $169.42 million, a PE ratio of -0.57 and a beta of 2.31. RumbleOn, Inc. has a 12-month low of $3.13 and a 12-month high of $8.17.

RumbleOn (NASDAQ:RMBL - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $302.76 million. During the same period last year, the firm posted ($0.71) earnings per share. As a group, equities analysts forecast that RumbleOn, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. B. Riley cut shares of 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, November 29th. DA Davidson reiterated a "neutral" rating and set a $5.00 target price (down previously from $7.50) on shares of RumbleOn in a report on Tuesday, January 14th.

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.