Cresset Asset Management LLC Sells 2,820 Shares of Rumble Inc. (NASDAQ:RUM)

Cresset Asset Management LLC decreased its position in Rumble Inc. (NASDAQ:RUM) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 25,406 shares of the company’s stock after selling 2,820 shares during the period. Cresset Asset Management LLC’s holdings in Rumble were worth $331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Centiva Capital LP bought a new position in shares of Rumble in the fourth quarter worth approximately $3,304,000. Balyasny Asset Management L.P. purchased a new stake in Rumble in the fourth quarter worth $3,966,000. Ameriprise Financial Inc. lifted its stake 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 during the period. Northern Trust Corp lifted its stake in Rumble by 17.9% in the fourth quarter. Northern Trust Corp now owns 213,582 shares of the company’s stock worth $2,779,000 after acquiring an additional 32,363 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new stake in Rumble in the fourth quarter worth $35,000. Institutional investors own 26.15% of the company’s stock.

Rumble Stock Up 1.5%

Shares of RUM stock opened at $10.47 on Friday. The stock has a fifty day moving average of $7.98 and a 200 day moving average of $9.12. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -16.62 and a beta of 0.69.

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

Analysts Set New Price Targets

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

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.