RIA Advisory Group LLC Acquires Shares of 23,530 Rumble Inc. (NASDAQ:RUM)

RIA Advisory Group LLC acquired a new stake in Rumble Inc. (NASDAQ:RUM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,530 shares of the company’s stock, valued at approximately $190,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. TCP Asset Management LLC boosted its stake in shares of Rumble by 21.3% during the 1st quarter. TCP Asset Management LLC now owns 28,520 shares of the company’s stock worth $230,000 after acquiring an additional 5,000 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Rumble by 1,100.0% during the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after acquiring an additional 5,500 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Rumble by 1,270.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after acquiring an additional 6,350 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Rumble during the 4th quarter worth approximately $32,000. Finally, Signaturefd LLC purchased a new stake in shares of Rumble during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

RUM traded up $0.01 during trading on Wednesday, hitting $5.63. The company’s stock had a trading volume of 673,751 shares, compared to its average volume of 3,898,454. The firm’s 50 day moving average price is $6.27 and its 200-day moving average price is $6.33. The stock has a market cap of $2.18 billion, a PE ratio of -8.84 and a beta of 0.77. Rumble Inc. has a twelve month low of $3.33 and a twelve month high of $9.20.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The company had revenue of $17.73 million during the quarter, compared to the consensus estimate of $18.27 million. Rumble had a negative return on equity of 46.51% and a negative net margin of 161.62%. During the same period in the previous year, the firm posted ($0.10) EPS. Equities analysts anticipate that Rumble Inc. will post -0.58 earnings per share for the current year.

Insider Activity

In other news, Director Robert Arsov sold 27,500 shares of the business’s 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 completion of the sale, the director now directly owns 15,049,837 shares of the company’s stock, valued at approximately $84,429,585.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 247,512 shares of company stock valued at $1,547,680 in the last ninety days. Company insiders own 72.90% of the company’s stock.

Analyst Ratings Changes

Separately, Oppenheimer restated a “market perform” rating on shares of Rumble in a research report on Thursday, March 28th.

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.