Fintel reports that Fmr has filed a 13G/A form with the SEC disclosing ownership of 1.80MM shares of RumbleON Inc (RMBL). This represents 11.119% of the company.
In their previous filing dated October 11, 2022 they reported 1.66MM shares and 10.43% of the company, an increase in shares of 7.88% and an increase in total ownership of 0.69% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 108.35% Upside
As of February 9, 2023, the average one-year price target for RumbleON is $18.56. The forecasts range from a low of $10.10 to a high of $27.30. The average price target represents an increase of 108.35% from its latest reported closing price of $8.91.
The projected annual revenue for RumbleON is $1,753MM, a decrease of 8.74%. The projected annual EPS is $1.48, a decrease of 50.35%.
What is the Fund Sentiment?
There are 161 funds or institutions reporting positions in RumbleON. This is a decrease of 3 owner(s) or 1.83% in the last quarter. Average portfolio weight of all funds dedicated to RMBL is 0.08%, a decrease of 34.02%. Total shares owned by institutions increased in the last three months by 2.87% to 7,760K shares. The put/call ratio of RMBL is 0.04, indicating a bullish outlook.
What are large shareholders doing?
Hood River Capital Management holds 701K shares representing 4.33% ownership of the company. In it's prior filing, the firm reported owning 716K shares, representing a decrease of 2.15%. The firm increased its portfolio allocation in RMBL by 8.32% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 590K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 434K shares, representing an increase of 26.46%. The firm decreased its portfolio allocation in RMBL by 51.52% over the last quarter.
Silverback Asset Management holds 589K shares representing 3.64% ownership of the company. No change in the last quarter.
HRSMX - Hood River Small-Cap Growth Fund Institutional Shares holds 295K shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 287K shares, representing an increase of 2.77%. The firm increased its portfolio allocation in RMBL by 6.47% over the last quarter.
Nantahala Capital Management holds 237K shares representing 1.46% ownership of the company. In it's prior filing, the firm reported owning 200K shares, representing an increase of 15.60%. The firm increased its portfolio allocation in RMBL by 75.90% over the last quarter.
RumbleON Background Information
(This description is provided by the company.)
Founded in 2017, RumbleOn is an e-commerce company using innovative technology to aggregate and distribute pre-owned automotive and powersport vehicles to and from both consumers and dealers, 100% online. RumbleOn is disrupting the pre-owned vehicle supply chain by providing dealers with technology solutions such as virtual inventory, and a 24/7 distribution platform, and consumers with an efficient, timely and transparent transaction experience, without leaving home. Whether buying, selling, trading or financing a vehicle, RumbleOn enables dealers and consumers to transact without geographic boundaries in a transparent, fast and friction free experience.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
