The Vanguard Group, Inc. recently announced the acquisition of new stake in Vroom Inc. (NASDAQ:VRM). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.04% to 6.21 million shares with purchase of 2735.0 shares. This fresh investment now brings its stake to 4.49% valued currently at $6.58 million. In addition, Antara Capital LP raised its holdings by 5.18 million to 5.18 million shares. And BlackRock Fund Advisors has lifted its position by 8.04% or 0.24 million shares – to 3.27 million shares.
With over 4.17 million Vroom Inc. (VRM) shares trading Friday and a closing price of $0.85 on the day, the dollar volume was approximately $3.55 million. The shares have shown a negative half year performance of -52.71% and its price on 03/10/23 lost nearly -6.15%. Currently, there are 138.18M common shares owned by the public and among those 132.60M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for VRM have a consensus price objective of $1.12. The analysts have set the share’s price value over the next 12 months at a high of $1.30 and a low of $1.00. The average price target is 54.3% above its recent price level and an upside to the estimated low will see the stock gain 15.0% over that period. But an upside of 34.62% will see the stock hit the forecast high price target while median target price for the stock is $1.00.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 3,038,208 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 132,176 shares.
The top 3 mutual fund holders in Vroom Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Gabelli Equity Trust. Vanguard Total Stock Market Index owns 4.33 million shares of the company’s stock, all valued at over $4.59 million. Gabelli Equity Trust bought 0.15 million shares to bring its total holdings to over 0.7 million shares at a value of $0.74 million. Gabelli Equity Trust now owns shares totaling to 0.51% of the shares outstanding.
However, the script later moved the day high at 0.9400, down -6.15%. The company’s stock has a 5-day price change of -12.25% and -10.59% over the past three months. VRM shares are trading -16.55% year to date (YTD), with the 12-month market performance down to -70.95% lower. It has a 12-month low price of $0.82 and touched a high of $3.40 over the same period. VRM has an average intraday trading volume of 3.83 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.48%, -19.02%, and -34.09% respectively.
Institutional ownership of Vroom Inc. (NASDAQ: VRM) shares accounts for 32.30% of the company’s 138.18M shares outstanding. Mutual fund holders own 6.67%, while other institutional holders and individual stakeholders account for 7.37% and 18.77% respectively.
It has a market capitalization of $125.73M. The earnings-per-share (ttm) stands at -$3.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.31% over the week and 7.81% over the month.
Analysts forecast that Vroom Inc. (VRM) will achieve an EPS of -$0.76 for the current quarter, -$0.49 for the next quarter and -$2.29 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.76 while analysts give the company a high EPS estimate of -$0.76. Comparatively, EPS for the current quarter was -$0.94 a year ago. Earnings per share for the fiscal year are expected to decrease by -20.50%, and 13.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Vroom Inc. (VRM) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 7 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VRM, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on November 22, 2022, with the firm’s price target at $3-$2. William Blair was of a view on April 28, 2022 that the stock is Mkt Perform, while Stifel gave the stock Hold rating on March 02, 2022, issuing a price target of $10- $4. Wells Fargo on their part issued Equal Weight rating on March 01, 2022.
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