Janney Montgomery Scott LLC Cuts Position in Rumble Inc. (NASDAQ:RUM)

Janney Montgomery Scott LLC reduced its holdings in shares of Rumble Inc. (NASDAQ:RUMFree Report) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,263 shares of the company’s stock after selling 2,317 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rumble were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RUM. US Bancorp DE boosted its stake in shares of Rumble by 48.4% during 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 last quarter. IFP Advisors Inc boosted its position in shares of Rumble by 36.7% in the first quarter. IFP Advisors Inc now owns 4,330 shares of the company’s stock worth $73,000 after acquiring an additional 1,163 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in Rumble during the first quarter valued at approximately $100,000. Sculati Wealth Management LLC acquired a new position in Rumble during the first quarter valued at approximately $115,000. Finally, Squarepoint Ops LLC acquired a new position in Rumble during the fourth quarter valued at approximately $75,000. 6.47% of the stock is currently owned by hedge funds and other institutional investors.

Rumble Stock Down 3.6 %

Shares of RUM stock opened at $4.83 on Friday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -16.10 and a beta of 0.81. Rumble Inc. has a fifty-two week low of $4.51 and a fifty-two week high of $13.55. The firm’s 50 day moving average price is $6.05 and its two-hundred day moving average price is $7.96.

Rumble (NASDAQ:RUMGet Free Report) last posted its quarterly earnings data on Monday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The firm had revenue of $24.97 million for the quarter, compared to analysts’ expectations of $19.89 million. Rumble had a negative net margin of 82.86% and a negative return on equity of 20.57%. On average, equities analysts forecast that Rumble Inc. will post -0.61 EPS for the current fiscal year.

About Rumble

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rumble (NASDAQ:RUM)

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