Potrero Capital Research LLC Acquires New Holdings in RumbleON, Inc. (NASDAQ:RMBL)

Potrero Capital Research LLC purchased a new position in RumbleON, Inc. (NASDAQ:RMBL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,751 shares of the company’s stock, valued at approximately $208,000. Potrero Capital Research LLC owned approximately 0.20% of RumbleON at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. EAM Investors LLC bought a new stake in shares of RumbleON in the 1st quarter worth approximately $920,000. Bank of New York Mellon Corp bought a new position in RumbleON in the 4th quarter worth $373,000. Bank of Montreal Can raised its holdings in RumbleON by 24.8% in the 1st quarter. Bank of Montreal Can now owns 35,265 shares of the company’s stock worth $1,435,000 after purchasing an additional 6,999 shares in the last quarter. Quadrature Capital Ltd bought a new position in RumbleON in the 1st quarter worth $280,000. Finally, Geode Capital Management LLC raised its holdings in RumbleON by 26.9% in the 1st quarter. Geode Capital Management LLC now owns 13,771 shares of the company’s stock worth $603,000 after purchasing an additional 2,918 shares in the last quarter. 13.89% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:RMBL traded up $1.36 during trading on Thursday, hitting $38.50. The company’s stock had a trading volume of 10,775 shares, compared to its average volume of 26,657. The company has a 50-day simple moving average of $38.54. RumbleON, Inc. has a 12 month low of $19.32 and a 12 month high of $64.13. The company has a current ratio of 1.00, a quick ratio of 0.53 and a debt-to-equity ratio of 17.41. The firm has a market cap of $130.52 million, a price-to-earnings ratio of -11.96 and a beta of 2.94.

RumbleON (NASDAQ:RMBL) last released its quarterly earnings data on Sunday, May 16th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.28). RumbleON had a negative net margin of 1.97% and a negative return on equity of 210.20%. The company had revenue of $104.26 million for the quarter. On average, equities research analysts forecast that RumbleON, Inc. will post -3.07 EPS for the current year.

Separately, Zacks Investment Research raised shares of RumbleON from a “sell” rating to a “hold” rating in a research report on Tuesday, May 18th.

In other news, Director Adam Alexander bought 1,500 shares of the stock in a transaction dated Wednesday, June 23rd. The stock was purchased at an average price of $39.40 per share, for a total transaction of $59,100.00. Following the acquisition, the director now owns 11,281 shares of the company’s stock, valued at $444,471.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 15.65% of the stock is currently owned by company insiders.

About RumbleON

RumbleON, Inc operates an e-commerce platform that aggregates and distributes pre-owned vehicles to and from consumers and dealers in North America. It operates in three segments: Powersports, Automotive, and Vehicle Logistics and Transportation. The Powersports segment distributes motorcycles. The Automotive segment distributes cars and trucks.

Further Reading: Dividend Aristocrat Index

Institutional Ownership by Quarter for RumbleON (NASDAQ:RMBL)

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