JB Capital Partners LP Purchases New Stake in RideNow Group, Inc. $RDNW

JB Capital Partners LP purchased a new stake in RideNow Group, Inc. (NASDAQ:RDNW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 70,000 shares of the company’s stock, valued at approximately $386,000.

A number of other hedge funds have also recently bought and sold shares of the company. City State Bank purchased a new position in RideNow Group during the 4th quarter worth $26,000. Dimensional Fund Advisors LP purchased a new position in shares of RideNow Group in the 4th quarter worth about $64,000. Qube Research & Technologies Ltd purchased a new position in shares of RideNow Group in the 2nd quarter worth about $52,000. Jane Street Group LLC purchased a new position in shares of RideNow Group in the 2nd quarter worth about $71,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of RideNow Group in the 4th quarter worth about $330,000. 66.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on RDNW. Wall Street Zen downgraded shares of RideNow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. DA Davidson reissued a “neutral” rating and issued a $6.00 price target on shares of RideNow Group in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of RideNow Group in a report on Tuesday, April 21st. Finally, Robert W. Baird boosted their price target on shares of RideNow Group from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.50.

RideNow Group Stock Up 1.0%

Shares of RDNW opened at $7.85 on Friday. The business’s 50-day moving average price is $7.34 and its 200-day moving average price is $6.39. RideNow Group, Inc. has a twelve month low of $1.89 and a twelve month high of $8.55. The stock has a market cap of $302.93 million, a PE ratio of -6.33 and a beta of 1.15.

RideNow Group (NASDAQ:RDNW) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter. RideNow Group had a negative net margin of 4.28% and a negative return on equity of 2,628.57%. The company had revenue of $260.40 million for the quarter.

RideNow Group Company Profile

RideNow Group, Inc (NASDAQ: RDNW) is a leading U.S. retailer of powersports vehicles, offering both new and pre-owned inventory to enthusiasts and recreational riders. The company’s dealerships carry a diverse lineup of motorcycles, all-terrain vehicles (ATVs), side-by-sides, personal watercraft and snowmobiles from major manufacturers. In addition to vehicle sales, RideNow Group provides comprehensive service and maintenance, aftermarket parts and accessories and a range of financing and protection plans tailored to powersports customers.

Founded in 2004 and headquartered in Houston, Texas, RideNow Group has grown through a combination of organic expansion and strategic acquisitions.