HighTower Advisors LLC Cuts Holdings in Rumble Inc. (NASDAQ:RUM)

HighTower Advisors LLC trimmed its position in Rumble Inc. (NASDAQ:RUM) by 19.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,963 shares of the company’s stock after selling 2,899 shares during the quarter. HighTower Advisors LLC’s holdings in Rumble were worth $156,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after buying an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after acquiring an additional 980 shares in the last quarter. Virtu Financial LLC purchased a new stake in Rumble during the third quarter valued at approximately $70,000. Barclays PLC lifted its stake in shares of Rumble by 663.9% in the 3rd 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 last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Rumble in the 4th quarter valued at approximately $78,000. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Rumble Price Performance

Shares of NASDAQ:RUM opened at $7.56 on Friday. The firm has a market capitalization of $2.95 billion, a PE ratio of -12.00 and a beta of 0.56. The business has a 50 day simple moving average of $9.68 and a two-hundred day simple moving average of $8.57. Rumble Inc. has a 1 year low of $4.92 and a 1 year high of $17.40.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $30.20 million for the quarter, compared to analysts’ expectations of $29.74 million. The business’s quarterly revenue was up 48.0% on a year-over-year basis. Equities research analysts expect that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at Rumble

In other Rumble news, insider Claudio Ramolo sold 4,812,646 shares of the firm’s stock in a transaction dated 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 owns 14,283 shares of the company’s stock, valued at approximately $107,122.50. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Tyler Hughes sold 312,727 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,345,452.50. Following the completion of the sale, the chief operating officer now owns 65,127 shares of the company’s stock, valued at approximately $488,452.50. This represents a 82.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,104,017 shares of company stock worth $308,280,128. Insiders own 70.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on RUM shares. Maxim Group assumed coverage on Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target on the stock. Wedbush reduced their target price on shares of Rumble from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 26th.

Rumble Company 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.