Rumble Inc. (NASDAQ:RUM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 73.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,176 shares of the company’s stock after selling 55,609 shares during the period. Janney Montgomery Scott LLC’s holdings in Rumble were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RUM. Virtu Financial LLC acquired a new position in shares of Rumble in the third quarter valued at about $70,000. Barclays PLC increased its holdings in shares of Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after purchasing an additional 11,784 shares during the period. RIA Advisory Group LLC acquired a new position in shares of Rumble in the third quarter valued at about $81,000. Gleason Group Inc. acquired a new position in shares of Rumble in the fourth quarter valued at about $212,000. Finally, Cypress Point Wealth Management LLC acquired a new position in shares of Rumble in the third quarter valued at about $98,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RUM shares. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th. Maxim Group assumed coverage on Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price on the stock.

Rumble Stock Down 3.4 %

Shares of RUM opened at $10.79 on Thursday. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -17.13 and a beta of 0.50. The stock’s 50-day moving average price is $11.41 and its 200-day moving average price is $7.82.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter in the previous year, the company earned ($0.14) EPS. As a group, equities analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at Rumble

In other Rumble news, Director Robert Arsov sold 29,988 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total transaction of $206,917.20. Following the transaction, the director now owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Tyler Hughes sold 312,727 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,345,452.50. Following the transaction, the chief operating officer now owns 65,127 shares in the company, valued at $488,452.50. This represents a 82.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,134,005 shares of company stock worth $308,487,045 over the last quarter. 70.10% of the stock is currently owned by insiders.

Rumble Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.