Sanctuary Wealth Management L.L.C. Has $58,000 Position in Rumble Inc. (NASDAQ:RUM)

Sanctuary Wealth Management L.L.C. trimmed its stake in shares of Rumble Inc. (NASDAQ:RUM) by 45.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,480 shares of the company’s stock after selling 3,700 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in Rumble were worth $58,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Momentous Wealth Management Inc. acquired a new position in shares of Rumble in the fourth quarter valued at approximately $180,000. Vanguard Group Inc. increased its position in Rumble by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock worth $103,723,000 after buying an additional 229,294 shares during the period. LPL Financial LLC boosted its position in shares of Rumble by 18.9% in the fourth quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after acquiring an additional 17,391 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Rumble in the fourth quarter valued at about $138,000. Finally, Virtu Financial LLC increased its position in Rumble by 88.4% during the fourth quarter. Virtu Financial LLC now owns 24,589 shares of the company’s stock worth $320,000 after acquiring an additional 11,539 shares during the period. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rumble

In other news, COO Tyler Hughes sold 312,727 shares of the company’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 in the company, valued at approximately $488,452.50. This represents a 82.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ryan Milnes sold 24,978,210 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 value of $187,336,575.00. Following the sale, the director now directly owns 57,290 shares in the company, valued at approximately $429,675. This trade represents a 99.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,104,017 shares of company stock valued at $308,280,128. Corporate insiders own 70.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RUM shares. Wedbush decreased their target price on shares of Rumble from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday. Maxim Group assumed coverage on Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target on the stock.

Rumble Stock Down 6.0 %

RUM opened at $7.24 on Friday. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -11.49 and a beta of 0.56. The company has a 50-day simple moving average of $10.21 and a 200 day simple moving average of $8.52.

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

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.