Daiwa Securities Group Inc. Sells 2,714 Shares of Rumble Inc. (NASDAQ:RUM)

Daiwa Securities Group Inc. reduced its position in shares of Rumble Inc. (NASDAQ:RUM) by 24.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,259 shares of the company’s stock after selling 2,714 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Rumble were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RUM. Geode Capital Management LLC raised its position in Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after purchasing an additional 130,956 shares during the period. Raymond James Financial Inc. bought a new position in shares of Rumble during the 4th quarter valued at approximately $468,000. MML Investors Services LLC purchased a new stake in Rumble during the 3rd quarter valued at $185,000. Janus Henderson Group PLC bought a new stake in Rumble in the third quarter worth $184,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Rumble during the fourth quarter worth $340,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Maxim Group assumed coverage on shares of Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company.

Rumble Stock Performance

Shares of NASDAQ RUM opened at $8.11 on Tuesday. The stock has a 50 day moving average price of $10.91 and a 200 day moving average price of $8.39. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -12.87 and a beta of 0.56. Rumble Inc. has a 52-week low of $4.92 and a 52-week high of $17.38.

Insider Buying and Selling at Rumble

In related news, insider Claudio Ramolo sold 4,812,646 shares of Rumble stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $36,094,845.00. Following the transaction, the insider now directly owns 14,283 shares of the company’s stock, valued at $107,122.50. This trade represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher Pavlovski sold 354,849 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the completion of the transaction, the chief executive officer now directly owns 522,927 shares of the company’s stock, valued at $3,921,952.50. This trade represents a 40.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,104,017 shares of company stock valued at $308,280,128 in the last ninety days. Corporate insiders own 70.10% of the company’s stock.

About Rumble

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.