Global Retirement Partners LLC Takes $78,000 Position in Rumble Inc. (NASDAQ:RUM)

Global Retirement Partners LLC purchased a new stake in Rumble Inc. (NASDAQ:RUM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,000 shares of the company’s stock, valued at approximately $78,000.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Rumble during the third quarter worth about $70,000. Barclays PLC raised its position in 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 last quarter. RIA Advisory Group LLC bought a new position in Rumble in the 3rd quarter worth approximately $81,000. Cypress Point Wealth Management LLC bought a new position in Rumble in the 3rd quarter worth approximately $98,000. Finally, FMR LLC raised its position in Rumble by 995.3% in the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock worth $120,000 after purchasing an additional 20,343 shares during the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Brandon Alexandroff sold 6,828,420 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 value of $51,213,150.00. Following the transaction, the chief financial officer now owns 64,210 shares in the company, valued at approximately $481,575. This represents a 99.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.90, for a total transaction of $206,917.20. Following the completion of the transaction, the director now owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,134,005 shares of company stock valued at $308,487,045 in the last three months. 70.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Rumble Price Performance

Shares of NASDAQ:RUM opened at $9.32 on Friday. The company’s 50-day moving average price is $12.10 and its two-hundred day moving average price is $8.20. Rumble Inc. has a one year low of $4.92 and a one year high of $17.40. The stock has a market capitalization of $3.63 billion, a PE ratio of -14.79 and a beta of 0.50.

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.