RumbleON, Inc. (OTCMKTS:RMBL) shares were up 21.7% on Friday after an insider bought additional shares in the company. The stock traded as high as $5.64 and last traded at $5.60. Approximately 667,831 shares were traded during mid-day trading, an increase of 299% from the average daily volume of 167,466 shares. The stock had previously closed at $4.60.
Specifically, Director Denmar John Dixon bought 50,415 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was bought at an average cost of $4.77 per share, with a total value of $240,479.55. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of brokerages recently commented on RMBL. Zacks Investment Research cut RumbleON from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st. National Securities began coverage on RumbleON in a research note on Thursday, December 20th. They set a “buy” rating for the company. B. Riley began coverage on RumbleON in a research note on Friday, March 15th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Maxim Group reaffirmed a “hold” rating on shares of RumbleON in a research note on Friday, March 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. RumbleON currently has an average rating of “Buy” and an average target price of $10.50.
Several institutional investors have recently made changes to their positions in RMBL. Nantahala Capital Management LLC lifted its position in RumbleON by 527.8% in the 4th quarter. Nantahala Capital Management LLC now owns 1,634,350 shares of the company’s stock valued at $8,793,000 after acquiring an additional 1,374,007 shares in the last quarter. 683 Capital Management LLC bought a new position in shares of RumbleON in the fourth quarter worth approximately $1,413,000. BlackRock Inc. lifted its stake in shares of RumbleON by 5.3% in the fourth quarter. BlackRock Inc. now owns 187,381 shares of the company’s stock worth $1,009,000 after buying an additional 9,405 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RumbleON by 402.3% in the third quarter. Vanguard Group Inc. now owns 187,082 shares of the company’s stock worth $1,961,000 after buying an additional 149,834 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in shares of RumbleON by 402.3% in the third quarter. Vanguard Group Inc now owns 187,082 shares of the company’s stock worth $1,961,000 after buying an additional 149,834 shares in the last quarter.
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About RumbleON (OTCMKTS:RMBL)
RumbleON, Inc (RumbleON), formerly Smart Server Inc, is a development-stage company. The Company focuses on creating an e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell-Trade-Finance pre-owned recreation vehicles (RV). Serving both consumers and dealers, RumbleON makes such consumers or dealers a cash offer for the purchase of their vehicle.
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