Total Clarity Wealth Management Inc. Acquires New Position in Rumble Inc. (NASDAQ:RUM)

Total Clarity Wealth Management Inc. bought a new position in Rumble Inc. (NASDAQ:RUM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 29,004 shares of the company’s stock, valued at approximately $161,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC bought a new position in shares of Rumble during the fourth quarter valued at $499,000. Principal Securities Inc. bought a new position in Rumble during the 4th quarter valued at about $32,000. Avantax Advisory Services Inc. purchased a new stake in shares of Rumble during the 1st quarter valued at about $335,000. Virtu Financial LLC bought a new stake in shares of Rumble in the first quarter worth approximately $339,000. Finally, SpiderRock Advisors LLC purchased a new position in shares of Rumble during the first quarter valued at approximately $198,000. Institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

Shares of RUM opened at $5.65 on Tuesday. The firm has a market capitalization of $2.19 billion, a P/E ratio of -8.83 and a beta of 0.75. Rumble Inc. has a one year low of $3.33 and a one year high of $9.20. The business has a fifty day moving average of $6.02 and a 200 day moving average of $6.43.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Rumble had a negative net margin of 163.37% and a negative return on equity of 54.31%. The firm had revenue of $22.47 million for the quarter, compared to the consensus estimate of $19.69 million. Analysts expect that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at Rumble

In other news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Monday, July 1st. The shares were sold at an average price of $5.61, for a total transaction of $154,275.00. Following the transaction, the director now owns 15,049,837 shares in the company, valued at approximately $84,429,585.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 195,000 shares of company stock valued at $1,118,325. Insiders own 72.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a report on Tuesday, August 13th.

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.