RIA Advisory Group LLC Invests $81,000 in Rumble Inc. (NASDAQ:RUM)

RIA Advisory Group LLC bought a new position in shares of Rumble Inc. (NASDAQ:RUM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,125 shares of the company’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RUM. Redwood Wealth Management Group LLC acquired a new stake in shares of Rumble during the second quarter worth about $30,000. Bank of New York Mellon Corp purchased a new stake in Rumble in the second quarter valued at approximately $66,000. SG Americas Securities LLC acquired a new stake in shares of Rumble in the second quarter valued at approximately $67,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Rumble during the first quarter worth approximately $81,000. Finally, Solano Wealth Management Inc. acquired a new position in shares of Rumble in the 2nd quarter valued at $83,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wedbush reiterated a “neutral” rating and set a $8.00 price target on shares of Rumble in a research note on Wednesday.

Insider Buying and Selling

In related news, Director Robert Arsov sold 27,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.59, for a total transaction of $153,725.00. Following the completion of the transaction, the director now directly owns 14,769,837 shares of the company’s stock, valued at $82,563,388.83. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 195,000 shares of company stock valued at $1,086,500 over the last three months. 72.90% of the stock is currently owned by company insiders.

Rumble Stock Performance

Shares of RUM opened at $5.61 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -8.90 and a beta of 0.72. Rumble Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $9.20. The firm has a 50-day simple moving average of $5.63 and a 200-day simple moving average of $6.01.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share 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 for the quarter, compared to analyst estimates of $29.25 million. During the same period in the previous year, the business posted ($0.14) earnings per share. Equities research analysts forecast that Rumble Inc. will post -0.55 EPS for the current year.

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.