RideNow Group, Inc. $RDNW Shares Sold by Union Square Park Capital Management LLC

Union Square Park Capital Management LLC reduced its position in RideNow Group, Inc. (NASDAQ:RDNW) by 9.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,432,821 shares of the company’s stock after selling 154,670 shares during the quarter. RideNow Group makes up about 5.7% of Union Square Park Capital Management LLC’s investment portfolio, making the stock its biggest holding. Union Square Park Capital Management LLC owned approximately 3.73% of RideNow Group worth $10,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of RideNow Group in the 4th quarter worth approximately $1,477,000. Deutsche Bank AG acquired a new stake in shares of RideNow Group during the 4th quarter valued at approximately $1,004,000. Millennium Management LLC acquired a new position in RideNow Group in the fourth quarter worth $927,000. First Financial Bankshares Inc bought a new stake in RideNow Group during the fourth quarter valued at $554,000. Finally, 683 Capital Management LLC bought a new stake in RideNow Group during the fourth quarter valued at $526,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

RideNow Group Price Performance

Shares of NASDAQ RDNW opened at $6.40 on Friday. RideNow Group, Inc. has a 1-year low of $1.92 and a 1-year high of $8.55. The business’s fifty day moving average price is $7.01 and its two-hundred day moving average price is $6.60. The firm has a market capitalization of $246.98 million, a PE ratio of -5.16 and a beta of 1.17.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RDNW. 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 research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RideNow Group in a research report on Friday, July 17th. Finally, Wall Street Zen cut shares of RideNow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, RideNow Group has an average rating of “Reduce” and a consensus target price of $7.50.

RideNow Group 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.