Offit Capital Advisors LLC lowered its stake in Vroom, Inc. (NASDAQ:VRM – Get Rating) by 54.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,166 shares of the company's stock after selling 42,527 shares during the quarter. Offit Capital Advisors LLC's holdings in Vroom were worth $96,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of VRM. Krilogy Financial LLC purchased a new stake in Vroom during the first quarter worth about $27,000. Legacy Advisors LLC purchased a new stake in Vroom during the first quarter worth about $27,000. Intercontinental Wealth Advisors LLC purchased a new stake in Vroom during the first quarter worth about $28,000. MAS Advisors LLC purchased a new stake in shares of Vroom during the first quarter worth approximately $29,000. Finally, Brighton Jones LLC purchased a new stake in shares of Vroom during the first quarter worth approximately $29,000. 37.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VRM shares. Stifel Nicolaus cut their target price on shares of Vroom from $2.00 to $1.50 in a research note on Tuesday, June 28th. JPMorgan Chase & Co. lowered shares of Vroom from a "neutral" rating to an "underweight" rating in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Vroom currently has a consensus rating of "Hold" and a consensus price target of $14.56.

Vroom Price Performance

Vroom (NASDAQ:VRM – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.77) by $0.04. The firm had revenue of $475.44 million during the quarter, compared to the consensus estimate of $543.88 million. Vroom had a negative return on equity of 55.16% and a negative net margin of 20.23%. The firm's quarterly revenue was down 37.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.48) earnings per share. Equities analysts predict that Vroom, Inc. will post -2.91 earnings per share for the current fiscal year.

About Vroom

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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.

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