Private Advisor Group LLC Has $196,000 Stock Holdings in Rumble Inc. (NASDAQ:RUM)

Key Points

• Private Advisor Group LLC reduced its stake in Rumble Inc. by 70.6% in Q1, now holding 27,677 shares valued at $196,000.
• D. E. Shaw & Co. Inc. significantly increased its stake in Rumble by 9,234.4%, acquiring over 1.3 million shares and raising its valuation to approximately $17.6 million.
• Wall Street analyst Wedbush has set a target price of $8.00 on Rumble stock, currently trading around $8.06.

Private Advisor Group LLC cut its holdings in Rumble Inc. (NASDAQ:RUM - Free Report) by 70.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,677 shares of the company's stock after selling 66,565 shares during the quarter. Private Advisor Group LLC's holdings in Rumble were worth $196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its stake in Rumble by 9,234.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company's stock valued at $17,587,000 after acquiring an additional 1,337,321 shares in the last quarter. Millennium Management LLC lifted its stake in Rumble by 287.7% in the 4th quarter. Millennium Management LLC now owns 781,747 shares of the company's stock valued at $10,171,000 after acquiring an additional 580,105 shares in the last quarter. Two Sigma Investments LP bought a new stake in Rumble in the 4th quarter valued at approximately $4,093,000. Balyasny Asset Management L.P. bought a new stake in Rumble in the 4th quarter valued at approximately $3,966,000. Finally, Centiva Capital LP bought a new stake in Rumble in the 4th quarter valued at approximately $3,304,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush set a $8.00 target price on Rumble and gave the company a "neutral" rating in a research note on Tuesday, April 15th.

Rumble Stock Performance

NASDAQ RUM opened at $8.06 on Friday. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -5.60 and a beta of 0.72. The stock's 50 day moving average price is $9.06 and its two-hundred day moving average price is $9.26.

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.

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