Truist Financial Corp Grows Holdings in Vroom, Inc. (NASDAQ:VRM)

Truist Financial Corp boosted its holdings in Vroom, Inc. (NASDAQ:VRMGet Rating) by 66.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,952 shares of the company’s stock after purchasing an additional 21,154 shares during the quarter. Truist Financial Corp’s holdings in Vroom were worth $141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Keystone Wealth Services LLC purchased a new position in Vroom during the 1st quarter worth $32,000. Sanders Morris Harris LLC purchased a new position in Vroom during the 1st quarter worth $724,000. Walleye Capital LLC purchased a new position in Vroom during the 4th quarter worth $741,000. Penserra Capital Management LLC raised its position in Vroom by 50.5% during the 4th quarter. Penserra Capital Management LLC now owns 672,338 shares of the company’s stock worth $7,254,000 after buying an additional 225,594 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in Vroom during the 4th quarter worth $2,053,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on VRM shares. Wedbush restated an “outperform” rating on shares of Vroom in a research report on Tuesday, May 10th. William Blair cut shares of Vroom from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. Finally, Stifel Nicolaus lowered their price target on shares of Vroom from $2.00 to $1.50 in a research note on Tuesday, June 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.28.

Vroom Price Performance

Shares of NASDAQ VRM opened at $1.49 on Monday. The stock has a market cap of $205.72 million, a price-to-earnings ratio of -0.34 and a beta of 1.62. Vroom, Inc. has a 52 week low of $1.03 and a 52 week high of $39.48. The company’s 50-day moving average price is $1.40 and its 200 day moving average price is $3.04. The company has a current ratio of 1.83, a quick ratio of 1.10 and a debt-to-equity ratio of 1.13.

Vroom (NASDAQ:VRMGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.32. Vroom had a negative net margin of 17.18% and a negative return on equity of 41.73%. The company had revenue of $923.50 million for the quarter, compared to analysts’ expectations of $878.18 million. During the same period last year, the company earned ($0.57) EPS. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. As a group, research analysts forecast that Vroom, Inc. will post -3.1 earnings per share for the current fiscal year.

Vroom Company Profile

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Vroom, Inc operates as an e-commerce used automotive retailer in the United States. It operates end-to-end ecommerce platform for buying, selling, transporting, reconditioning, pricing, financing, registering, and delivering vehicles. The company was formerly known as Auto America, Inc and changed its name to Vroom, Inc in July 2015.

See Also

Institutional Ownership by Quarter for Vroom (NASDAQ:VRM)

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