Total Clarity Wealth Management Inc. Takes Position in Rumble Inc. (NASDAQ:RUM)

Total Clarity Wealth Management Inc. purchased a new position in shares of Rumble Inc. (NASDAQ:RUM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 29,004 shares of the company’s stock, valued at approximately $161,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new position in shares of Rumble in the second quarter valued at about $30,000. Principal Securities Inc. bought a new position in Rumble during the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. lifted its holdings in Rumble by 1,270.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after buying an additional 6,350 shares during the period. Bank of New York Mellon Corp purchased a new stake in Rumble in the 2nd quarter worth approximately $66,000. Finally, SG Americas Securities LLC bought a new stake in shares of Rumble in the 2nd quarter worth approximately $67,000. 26.15% of the stock is currently owned by institutional investors.

Rumble Price Performance

Shares of NASDAQ RUM opened at $5.65 on Tuesday. Rumble Inc. has a 1 year low of $3.33 and a 1 year high of $9.20. The stock has a market capitalization of $2.19 billion, a P/E ratio of -8.83 and a beta of 0.75. The company’s 50-day moving average is $6.02 and its 200 day moving average is $6.43.

Rumble (NASDAQ:RUM) last posted its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The firm had revenue of $22.47 million for the quarter, compared to analysts’ expectations of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. Research analysts anticipate that Rumble Inc. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $5.76, for a total transaction of $158,400.00. Following the sale, the director now owns 14,994,837 shares in the company, valued at approximately $86,370,261.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 195,000 shares of company stock worth $1,118,325. 72.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research note on Tuesday, August 13th.

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.