Janney Montgomery Scott LLC Sells 55,609 Shares of Rumble Inc. (NASDAQ:RUM)

Janney Montgomery Scott LLC lessened its holdings in shares of Rumble Inc. (NASDAQ:RUM - Free Report) by 73.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,176 shares of the company's stock after selling 55,609 shares during the quarter. Janney Montgomery Scott LLC's holdings in Rumble were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Rumble in the third quarter valued at approximately $70,000. Barclays PLC increased its stake in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after acquiring an additional 11,784 shares during the period. RIA Advisory Group LLC bought a new position in Rumble during the 3rd quarter worth $81,000. Cypress Point Wealth Management LLC bought a new position in shares of Rumble in the 3rd quarter valued at $98,000. Finally, FMR LLC increased its stake in shares of Rumble by 995.3% in the 3rd quarter. FMR LLC now owns 22,387 shares of the company's stock valued at $120,000 after purchasing an additional 20,343 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert Arsov sold 29,988 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the transaction, the director now directly owns 12,487,349 shares of the company's stock, valued at $86,162,708.10. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ryan Milnes sold 24,978,210 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now directly owns 57,290 shares in the company, valued at $429,675. This represents a 99.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,134,005 shares of company stock valued at $308,487,045. 70.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RUM shares. Maxim Group began coverage on Rumble in a research note on Wednesday, January 15th. They issued a "buy" rating and a $20.00 price target on the stock. Wedbush reissued a "neutral" rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th.

Rumble Stock Up 1.9 %

RUM traded up $0.22 during midday trading on Friday, hitting $11.52. 2,609,559 shares of the company were exchanged, compared to its average volume of 3,935,989. The firm has a market capitalization of $4.49 billion, a P/E ratio of -18.29 and a beta of 0.50. Rumble Inc. has a 1-year low of $4.92 and a 1-year high of $17.40. The firm's 50 day moving average price is $11.62 and its 200-day moving average price is $7.91.

Rumble 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.