Y Intercept Hong Kong Ltd Invests $137,000 in RideNow Group, Inc. $RDNW

Y Intercept Hong Kong Ltd bought a new stake in shares of RideNow Group, Inc. (NASDAQ:RDNW) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 59,394 shares of the company’s stock, valued at approximately $137,000. Y Intercept Hong Kong Ltd owned 0.16% of RideNow Group as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RDNW. First Financial Bankshares Inc acquired a new stake in RideNow Group in the first quarter valued at approximately $283,000. Nuveen LLC acquired a new position in shares of RideNow Group during the first quarter worth $98,000. Finally, Magnus Financial Group LLC boosted its stake in shares of RideNow Group by 50.0% in the second quarter. Magnus Financial Group LLC now owns 60,000 shares of the company’s stock valued at $139,000 after purchasing an additional 20,000 shares during the period. 66.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RDNW. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RideNow Group in a research note on Wednesday, October 8th. DA Davidson set a $4.00 target price on RideNow Group and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.75.

RideNow Group Trading Up 7.3%

NASDAQ RDNW opened at $4.40 on Monday. The company has a market capitalization of $167.42 million, a price-to-earnings ratio of -1.57 and a beta of 1.10. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.12 and a quick ratio of 0.29. RideNow Group, Inc. has a 12 month low of $1.46 and a 12 month high of $7.06. The company’s fifty day moving average price is $3.74 and its two-hundred day moving average price is $2.86.

RideNow Group (NASDAQ:RDNW) last issued its earnings results on Monday, August 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. RideNow Group had a negative net margin of 9.35% and a negative return on equity of 223.85%. The business had revenue of $299.90 million for the quarter, compared to analyst estimates of $259.08 million. As a group, research analysts predict that RideNow Group, Inc. will post -0.89 earnings per share for the current fiscal year.

RideNow Group Profile

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.