Gleason Group Inc. Makes New Investment in Rumble Inc. (NASDAQ:RUM)

Gleason Group Inc. acquired a new stake in Rumble Inc. (NASDAQ:RUM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 16,322 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new stake in shares of Rumble during the second quarter worth $30,000. Bank of New York Mellon Corp acquired a new stake in Rumble in the 2nd quarter worth about $66,000. Virtu Financial LLC acquired a new position in shares of Rumble during the 3rd quarter worth approximately $70,000. Barclays PLC increased its holdings in shares of Rumble by 663.9% during the third 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. Finally, RIA Advisory Group LLC acquired a new stake in shares of Rumble in the third quarter valued at approximately $81,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Stock Down 0.4 %

Shares of Rumble stock opened at $10.92 on Tuesday. The firm’s 50-day moving average price is $8.90 and its two-hundred day moving average price is $6.90. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -17.33 and a beta of 0.52. Rumble Inc. has a 12-month low of $3.37 and a 12-month high of $17.40.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. On average, sell-side analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Activity at Rumble

In other Rumble news, Director Robert Arsov sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total value of $177,900.00. Following the completion of the transaction, the director now directly owns 12,517,337 shares in the company, valued at approximately $74,227,808.41. This represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 114,988 shares of company stock valued at $701,617 over the last ninety days. 72.90% of the stock is owned by corporate insiders.

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.