Legal & General Group Plc Purchases 6,937 Shares of Rumble Inc. (NASDAQ:RUM)

Legal & General Group Plc increased its position in Rumble Inc. (NASDAQ:RUM) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,354 shares of the company’s stock after purchasing an additional 6,937 shares during the period. Legal & General Group Plc’s holdings in Rumble were worth $655,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RUM. IFP Advisors Inc boosted its holdings in Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Rumble by 50.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after buying an additional 980 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Rumble in the fourth quarter valued at approximately $78,000. Jones Financial Companies Lllp increased its position in shares of Rumble by 423.1% during the fourth quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock valued at $104,000 after acquiring an additional 6,473 shares during the last quarter. Finally, Stonegate Investment Group LLC bought a new stake in Rumble during the fourth quarter worth $130,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Insider Activity

In related news, Director Ryan Milnes sold 24,978,210 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the sale, the director now owns 57,290 shares of the company’s stock, valued at approximately $429,675. This represents a 99.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Tyler Hughes sold 312,727 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,345,452.50. Following the completion of the transaction, the chief operating officer now directly owns 65,127 shares of the company’s stock, valued at approximately $488,452.50. The trade was a 82.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,104,017 shares of company stock worth $308,280,128. 70.10% of the stock is owned by corporate insiders.

Rumble Stock Performance

Shares of RUM opened at $8.11 on Tuesday. The firm has a market cap of $3.52 billion, a P/E ratio of -12.87 and a beta of 0.70. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40. The business has a 50-day moving average of $8.05 and a 200 day moving average of $8.88.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Tuesday, March 25th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $30.20 million for the quarter, compared to analysts’ expectations of $29.74 million. The business’s quarterly revenue was up 48.0% on a year-over-year basis. As a group, research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RUM shares. Maxim Group began coverage on Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price for the company. Wedbush set a $8.00 price objective on shares of Rumble and gave the stock a “neutral” rating in a research report on Tuesday, April 15th.

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.