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

Union Square Park Capital Management LLC trimmed its holdings in RideNow Group, Inc. (NASDAQ:RDNW) by 9.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,432,821 shares of the company’s stock after selling 154,670 shares during the quarter. RideNow Group comprises about 5.7% of Union Square Park Capital Management LLC’s portfolio, making the stock its biggest holding. Union Square Park Capital Management LLC’s holdings in RideNow Group were worth $10,116,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. City State Bank acquired a new position in RideNow Group during the 4th quarter worth $26,000. Hillsdale Investment Management Inc. increased its holdings in shares of RideNow Group by 8.4% during the first quarter. Hillsdale Investment Management Inc. now owns 64,703 shares of the company’s stock valued at $457,000 after purchasing an additional 5,000 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of RideNow Group during the fourth quarter valued at about $64,000. Balyasny Asset Management L.P. acquired a new stake in RideNow Group in the fourth quarter worth about $66,000. Finally, OMERS ADMINISTRATION Corp bought a new position in RideNow Group in the 4th quarter valued at about $69,000. Institutional investors own 66.14% of the company’s stock.

RideNow Group Stock Performance

RDNW opened at $6.40 on Friday. RideNow Group, Inc. has a one year low of $1.92 and a one year high of $8.55. The stock’s fifty day moving average is $7.01 and its 200-day moving average is $6.60. The company 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 earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter. RideNow Group had a negative net margin of 4.28% and a negative return on equity of 2,628.57%. The firm had revenue of $260.40 million for the quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on RDNW. Weiss Ratings reissued a “sell (d-)” rating on shares of RideNow Group in a research note on Friday, July 17th. Robert W. Baird upped their price target on shares of RideNow Group from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $7.50.

About RideNow Group

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.