Rumble Inc. (NASDAQ:RUM) Position Trimmed by TCP Asset Management LLC

TCP Asset Management LLC trimmed its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 23.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,645 shares of the company’s stock after selling 6,775 shares during the period. TCP Asset Management LLC’s holdings in Rumble were worth $282,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of Rumble in the 2nd quarter worth approximately $66,000. Virtu Financial LLC acquired a new stake in Rumble in the third quarter worth $70,000. Barclays PLC lifted its stake in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Rumble during the third quarter valued at $81,000. Finally, Cypress Point Wealth Management LLC bought a new position in shares of Rumble during the third quarter worth about $98,000. 26.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.69, for a total transaction of $156,475.00. Following the completion of the sale, the director now directly owns 12,577,337 shares in the company, valued at approximately $71,565,047.53. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 114,988 shares of company stock worth $701,617. 72.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on RUM shares. Maxim Group initiated coverage on shares of Rumble in a research note on Wednesday. They set a “buy” rating and a $20.00 target price for the company. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Stock Up 5.3 %

Shares of RUM opened at $12.90 on Friday. The firm has a market capitalization of $5.03 billion, a PE ratio of -20.48 and a beta of 0.52. The firm has a 50-day moving average price of $9.36 and a 200 day moving average price of $7.06. Rumble Inc. has a 52-week low of $3.37 and a 52-week high of $17.40.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The company had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. During the same quarter last year, the business earned ($0.14) earnings per share. On average, equities analysts expect that Rumble Inc. will post -0.62 EPS for the current year.

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.