Fidelity Management & Research Co recently announced the acquisition of new stake in RumbleON Inc. (NASDAQ:RMBL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 84.06% to 1.66 million shares with purchase of 0.76 million shares. This fresh investment now brings its stake to 10.31% valued currently at $10.77 million. In addition, Nantahala Capital Management LLC raised its holdings by 1.24 million to 1.48 million shares. And BlackRock Fund Advisors has lifted its position by 4.83% or 23531.0 shares – to 0.51 million shares.
With over 0.38 million RumbleON Inc. (RMBL) shares trading Tuesday and a closing price of $9.39 on the day, the dollar volume was approximately $3.55 million. The shares have shown a negative half year performance of -43.13% and its price on 01/17/23 lost nearly -3.40%. Currently, there are 16.02M common shares owned by the public and among those 10.23M shares have been available to trade.
The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $13.00. The average price target is 48.41% above its recent price level and an upside to the estimated low will see the stock gain 27.77% over that period. But an upside of 63.88% will see the stock hit the forecast high price target while median target price for the stock is $17.00.
Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 270,310 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 4,368 shares.
The top 3 mutual fund holders in RumbleON Inc. are Fidelity Growth Company Fund, Vanguard Total Stock Market Index, and Hood River Small-Cap Growth Fund. Fidelity Growth Company Fund owns 0.59 million shares of the company’s stock, all valued at over $3.82 million. The company sold 7774.0 shares recently to bring their total holdings to about 3.66% of the shares outstanding. Vanguard Total Stock Market Index bought 0.16 million shares to see its total holdings expand to 0.4 million shares valued at over $2.61 million and representing 2.50% of the shares outstanding. Hood River Small-Cap Growth Fund bought 8174.0 shares to bring its total holdings to over 0.3 million shares at a value of $1.91 million. Hood River Small-Cap Growth Fund now owns shares totaling to 1.83% of the shares outstanding.
Shares of RumbleON Inc. (NASDAQ: RMBL) opened at $9.86, up $0.14 from a prior closing price of $9.72. However, the script later moved the day high at 9.86, down -3.40%. The company’s stock has a 5-day price change of 16.94% and -31.96% over the past three months. RMBL shares are trading 45.13% year to date (YTD), with the 12-month market performance down to -75.35% lower. It has a 12-month low price of $5.89 and touched a high of $41.81 over the same period. RMBL has an average intraday trading volume of 170.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 29.59%, 9.97%, and -43.59% respectively.
Institutional ownership of RumbleON Inc. (NASDAQ: RMBL) shares accounts for 43.50% of the company’s 16.02M shares outstanding. Mutual fund holders own 32.72%, while other institutional holders and individual stakeholders account for 54.53% and 17.95% respectively.
It has a market capitalization of $144.23M and a beta (3y monthly) value of 2.29. The stock’s trailing 12-month PE ratio is 3.12, while the earnings-per-share (ttm) stands at $3.01. The company has a PEG of 0.12 and a Quick Ratio of 0.30 with the debt-to-equity ratio at 1.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.29% over the week and 8.59% over the month.
Analysts forecast that RumbleON Inc. (RMBL) will achieve an EPS of $0.64 for the current quarter, $0.73 for the next quarter and $3.89 for 2023. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.95. Comparatively, EPS for the current quarter was -$3.25 a year ago. Earnings per share for the fiscal year are expected to increase by 87.70%, and 2.97% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to -11.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate RumbleON Inc. (RMBL) as a “Strong Buy” at a consensus score of 1.80. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
DA Davidson coverage for the RumbleON Inc. (RMBL) stock in a research note released on October 14, 2021 offered a Buy rating with a price target of $47. Wedbush was of a view on September 15, 2021 that the stock is Outperform, while Robert W. Baird gave the stock Outperform rating on September 02, 2021, issuing a price target of $42. B. Riley Securities on their part issued Buy rating on September 02, 2021.