Citigroup Inc. Purchases Shares of 380,513 Rumble Inc. (NASDAQ:RUM)

Citigroup Inc. purchased a new stake in shares of Rumble Inc. (NASDAQ:RUM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 380,513 shares of the company’s stock, valued at approximately $3,805,000. Citigroup Inc. owned approximately 0.10% of Rumble at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RUM. US Bancorp DE boosted its holdings in shares of Rumble by 48.4% in the 1st quarter. US Bancorp DE now owns 3,065 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the period. IFP Advisors Inc purchased a new position in Rumble during the 4th quarter valued at $54,000. Squarepoint Ops LLC purchased a new position in Rumble during the 4th quarter valued at $75,000. ExodusPoint Capital Management LP purchased a new position in Rumble during the 4th quarter valued at $77,000. Finally, RIA Advisory Group LLC purchased a new position in Rumble during the 4th quarter valued at $97,000. Hedge funds and other institutional investors own 6.47% of the company’s stock.

Rumble Stock Down 5.9 %

RUM opened at $7.88 on Monday. The business has a fifty day moving average of $8.17 and a 200 day moving average of $8.86. Rumble Inc. has a 52-week low of $5.81 and a 52-week high of $17.23. The stock has a market cap of $3.04 billion, a P/E ratio of -26.27 and a beta of 0.56.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on Rumble from $15.00 to $12.00 in a report on Tuesday, May 16th.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.