Rumble Inc. (NASDAQ:RUM) Position Reduced by TCP Asset Management LLC

TCP Asset Management LLC trimmed its position in Rumble Inc. (NASDAQ:RUM) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,645 shares of the company’s stock after selling 6,775 shares during the quarter. TCP Asset Management LLC’s holdings in Rumble were worth $282,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in Rumble in the 2nd quarter worth approximately $66,000. Cypress Point Wealth Management LLC purchased a new stake in shares of Rumble in the third quarter valued at $98,000. RIA Advisory Group LLC acquired a new stake in shares of Rumble in the third quarter worth $81,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after buying an additional 24,879 shares in the last quarter. Finally, FMR LLC raised its position in Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after buying an additional 20,343 shares during the period. 26.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.69, for a total value of $156,475.00. Following the completion of the sale, the director now owns 12,577,337 shares of the company’s stock, valued at approximately $71,565,047.53. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 114,988 shares of company stock worth $701,617. Insiders own 72.90% of the company’s stock.

Rumble Trading Up 5.3 %

Shares of NASDAQ:RUM opened at $12.90 on Friday. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -20.48 and a beta of 0.52. Rumble Inc. has a 1 year low of $3.37 and a 1 year high of $17.40. The business has a fifty day simple moving average of $9.36 and a 200 day simple moving average of $7.06.

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

Analyst Ratings Changes

A number of brokerages have commented on RUM. Maxim Group began coverage on Rumble in a research report on Wednesday. They set a “buy” rating and a $20.00 price objective for the company. Wedbush restated a “neutral” rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th.

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.