RIA Advisory Group LLC Acquires New Position in Rumble Inc. (NASDAQ:RUM)

RIA Advisory Group LLC bought a new position in shares of Rumble Inc. (NASDAQ:RUM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,125 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors also recently bought and sold shares of the company. Avantax Advisory Services Inc. acquired a new stake in shares of Rumble during the 1st quarter worth approximately $335,000. Bayesian Capital Management LP acquired a new stake in Rumble during the first quarter worth $256,000. Coppell Advisory Solutions Corp. purchased a new stake in Rumble in the first quarter valued at $81,000. Empirical Capital Management LLC acquired a new position in shares of Rumble in the 1st quarter valued at $1,584,000. Finally, Virtu Financial LLC acquired a new position in shares of Rumble in the 1st quarter valued at $339,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total transaction of $177,900.00. Following the sale, the director now directly owns 12,517,337 shares in the company, valued at $74,227,808.41. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 195,000 shares of company stock valued at $1,086,500. Corporate insiders own 72.90% of the company’s stock.

Rumble Stock Performance

Shares of RUM stock opened at $5.61 on Friday. The firm has a market cap of $2.18 billion, a P/E ratio of -8.90 and a beta of 0.72. The firm’s 50 day moving average price is $5.63 and its 200-day moving average price is $6.01. Rumble Inc. has a one year low of $3.33 and a one year high of $9.20.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $29.25 million. During the same quarter last year, the company earned ($0.14) earnings per share. As a group, research analysts predict that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a report on Wednesday.

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.