Rumble Inc. (NASDAQ:RUM) Shares Acquired by Virtu Financial LLC

Virtu Financial LLC boosted its position in Rumble Inc. (NASDAQ:RUM) by 88.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,589 shares of the company’s stock after purchasing an additional 11,539 shares during the period. Virtu Financial LLC’s holdings in Rumble were worth $320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after purchasing an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after buying an additional 980 shares in the last quarter. Barclays PLC lifted its position in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Rumble during the 4th quarter worth $78,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Rumble by 423.1% in the 4th quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock worth $104,000 after acquiring an additional 6,473 shares during the last quarter. 26.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RUM has been the subject of a number of recent analyst reports. Maxim Group initiated coverage on Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price target for the company. Wedbush reduced their price objective on shares of Rumble from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday.

Insider Activity

In other news, Director Ryan Milnes sold 24,978,210 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the transaction, the director now directly owns 57,290 shares in the company, valued at $429,675. The trade was a 99.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $51,213,150.00. Following the sale, the chief financial officer now owns 64,210 shares of the company’s stock, valued at approximately $481,575. This represents a 99.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,104,017 shares of company stock worth $308,280,128 in the last 90 days. Company insiders own 70.10% of the company’s stock.

Rumble Stock Performance

NASDAQ RUM opened at $7.70 on Friday. The firm’s 50 day moving average price is $10.33 and its two-hundred day moving average price is $8.48. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.38. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -12.22 and a beta of 0.56.

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

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.