Oppenheimer & Co. Inc. Takes Position in Rumble Inc. (NASDAQ:RUM)

Oppenheimer & Co. Inc. purchased a new stake in shares of Rumble Inc. (NASDAQ:RUM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,110 shares of the company’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in shares of 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 buying an additional 830 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Rumble in the fourth quarter valued at $78,000. Stonegate Investment Group LLC purchased a new stake in Rumble in the fourth quarter valued at $130,000. Spire Wealth Management purchased a new stake in Rumble in the fourth quarter valued at $159,000. Finally, Virtu Financial LLC purchased a new stake in Rumble in the third quarter valued at $70,000. Institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

Rumble stock opened at $8.38 on Friday. The firm has a 50 day simple moving average of $11.55 and a 200-day simple moving average of $8.28. Rumble Inc. has a 1-year low of $4.92 and a 1-year high of $17.40. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -13.30 and a beta of 0.56.

Insider Buying and Selling at Rumble

In related news, CFO Brandon Alexandroff sold 6,828,420 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 value of $51,213,150.00. Following the completion of the sale, the chief financial officer now directly owns 64,210 shares of the company’s stock, valued at $481,575. The trade was a 99.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ryan Milnes sold 24,978,210 shares of the company’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 $187,336,575.00. Following the completion of the sale, the director now directly owns 57,290 shares of the company’s stock, valued at $429,675. The trade was a 99.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,104,017 shares of company stock valued at $308,280,128 in the last 90 days. Company insiders own 70.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th. Maxim Group began coverage on shares of Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company.

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.