Janney Montgomery Scott LLC Sells 55,609 Shares of Rumble Inc. (NASDAQ:RUM)

Janney Montgomery Scott LLC decreased its position in Rumble Inc. (NASDAQ:RUM) by 73.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,176 shares of the company’s stock after selling 55,609 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rumble were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Rumble in the 3rd quarter worth approximately $70,000. Barclays PLC boosted its holdings in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares during the period. RIA Advisory Group LLC purchased a new position in Rumble during the 3rd quarter valued at $81,000. Cypress Point Wealth Management LLC purchased a new position in Rumble during the 3rd quarter valued at $98,000. Finally, FMR LLC boosted its holdings in Rumble by 995.3% during the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after acquiring an additional 20,343 shares during the period. Institutional investors own 26.15% of the company’s stock.

Analysts Set New Price Targets

RUM has been the subject of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th. Maxim Group initiated coverage on Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective for the company.

Rumble Stock Down 3.4 %

RUM opened at $10.79 on Thursday. Rumble Inc. has a 52-week low of $4.92 and a 52-week high of $17.40. The stock has a market cap of $4.21 billion, a P/E ratio of -17.13 and a beta of 0.50. The business has a fifty day moving average of $11.41 and a 200 day moving average of $7.82.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Equities analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Arsov sold 29,988 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the transaction, the director now directly owns 12,487,349 shares of the company’s stock, valued at approximately $86,162,708.10. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Tyler Hughes sold 312,727 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,345,452.50. Following the completion of the transaction, the chief operating officer now directly owns 65,127 shares of the company’s stock, valued at approximately $488,452.50. The trade was a 82.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,134,005 shares of company stock worth $308,487,045. 70.10% of the stock is currently owned by company insiders.

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.