CoreCap Advisors LLC Sells 7,717 Shares of Rumble Inc. (NASDAQ:RUM)

CoreCap Advisors LLC trimmed its position in Rumble Inc. (NASDAQ:RUM) by 41.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,693 shares of the company’s stock after selling 7,717 shares during the quarter. CoreCap Advisors LLC’s holdings in Rumble were worth $139,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after buying an additional 830 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Rumble in the 4th quarter valued at about $35,000. Steward Partners Investment Advisory LLC grew its position in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after acquiring an additional 980 shares in the last quarter. Barclays PLC grew its position in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Rumble during the fourth quarter worth approximately $78,000. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Rumble Price Performance

Rumble stock opened at $9.96 on Tuesday. Rumble Inc. has a 1-year low of $4.92 and a 1-year high of $17.40. The company’s 50-day moving average is $7.80 and its 200 day moving average is $9.05. The firm has a market capitalization of $4.33 billion, a P/E ratio of -15.81 and a beta of 0.69.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($1.15) earnings per share 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 business had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $29.74 million. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. Research analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

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.