Private Advisor Group LLC cut its stake in shares of Rumble Inc. (NASDAQ:RUM - Free Report) by 70.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,677 shares of the company's stock after selling 66,565 shares during the period. Private Advisor Group LLC's holdings in Rumble were worth $196,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Rumble by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company's stock valued at $103,723,000 after purchasing an additional 229,294 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Rumble by 9,234.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company's stock worth $17,587,000 after acquiring an additional 1,337,321 shares in the last quarter. Geode Capital Management LLC grew its position in Rumble by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company's stock worth $13,550,000 after acquiring an additional 5,326 shares in the last quarter. Millennium Management LLC grew its position in Rumble by 287.7% in the fourth quarter. Millennium Management LLC now owns 781,747 shares of the company's stock worth $10,171,000 after acquiring an additional 580,105 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Rumble by 2.8% in the fourth quarter. Ameriprise Financial Inc. now owns 638,316 shares of the company's stock worth $8,304,000 after acquiring an additional 17,100 shares in the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.
Rumble Stock Down 1.4%
RUM stock traded down $0.12 during trading hours on Wednesday, hitting $8.26. The company's stock had a trading volume of 1,316,686 shares, compared to its average volume of 2,925,124. The stock has a 50 day moving average price of $9.02 and a two-hundred day moving average price of $9.20. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40. The company has a market capitalization of $3.59 billion, a PE ratio of -5.71 and a beta of 0.72.
Wall Street Analysts Forecast Growth
Separately, Wedbush set a $8.00 target price on shares of Rumble and gave the stock a "neutral" rating in a research report on Tuesday, April 15th.
Read Our Latest Analysis on Rumble
Rumble Profile
(
Free Report)
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.
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