Arete Wealth Advisors LLC Sells 116,280 Shares of Rumble Inc. $RUM

Arete Wealth Advisors LLC trimmed its holdings in Rumble Inc. (NASDAQ:RUM) by 59.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 79,000 shares of the company’s stock after selling 116,280 shares during the period. Arete Wealth Advisors LLC’s holdings in Rumble were worth $559,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. North Star Investment Management Corp. increased its holdings in Rumble by 60.0% in the 1st quarter. North Star Investment Management Corp. now owns 4,000 shares of the company’s stock worth $28,000 after buying an additional 1,500 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Rumble by 28,571.4% in the 1st quarter. Golden State Wealth Management LLC now owns 4,014 shares of the company’s stock worth $28,000 after buying an additional 4,000 shares in the last quarter. CWM LLC lifted its holdings in Rumble by 104.3% in the first quarter. CWM LLC now owns 4,395 shares of the company’s stock valued at $31,000 after acquiring an additional 2,244 shares during the period. Raleigh Capital Management Inc. lifted its holdings in Rumble by 8,900.0% in the first quarter. Raleigh Capital Management Inc. now owns 4,500 shares of the company’s stock valued at $32,000 after acquiring an additional 4,450 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Rumble by 711.8% in the first quarter. AlphaQuest LLC now owns 7,095 shares of the company’s stock valued at $50,000 after acquiring an additional 6,221 shares during the period. 26.15% of the stock is currently owned by institutional investors.

Rumble Stock Performance

RUM stock opened at $7.51 on Wednesday. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40. The business’s 50-day moving average is $8.39 and its two-hundred day moving average is $8.42. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -5.25 and a beta of 0.70.

Rumble (NASDAQ:RUM) last posted its earnings results on Sunday, August 10th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. The firm had revenue of $25.09 million during the quarter, compared to the consensus estimate of $26.78 million. Rumble’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.00.

About Rumble

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.