JB Capital Partners LP Takes $386,000 Position in RideNow Group, Inc. $RDNW

JB Capital Partners LP purchased a new stake in shares of RideNow Group, Inc. (NASDAQ:RDNW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 70,000 shares of the company’s stock, valued at approximately $386,000. JB Capital Partners LP owned about 0.18% of RideNow Group as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of RDNW. City State Bank bought a new position in shares of RideNow Group during the fourth quarter valued at $26,000. Qube Research & Technologies Ltd bought a new position in shares of RideNow Group during the second quarter valued at $52,000. Dimensional Fund Advisors LP bought a new position in shares of RideNow Group during the fourth quarter valued at $64,000. Jane Street Group LLC bought a new position in shares of RideNow Group during the second quarter valued at $71,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of RideNow Group during the fourth quarter valued at $330,000. Institutional investors own 66.14% of the company’s stock.

RideNow Group Stock Performance

RideNow Group stock opened at $7.85 on Friday. The firm has a 50 day moving average price of $7.34 and a two-hundred day moving average price of $6.39. The firm has a market cap of $302.93 million, a price-to-earnings ratio of -6.33 and a beta of 1.15. RideNow Group, Inc. has a 52-week low of $1.89 and a 52-week high of $8.55.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of RideNow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. DA Davidson restated a “neutral” rating and set a $6.00 price target on shares of RideNow Group in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of RideNow Group in a report on Tuesday, April 21st. Finally, Robert W. Baird raised 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 equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, RideNow Group has an average rating of “Reduce” and an average target price of $7.50.

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.