Sanctuary Wealth Management L.L.C. Sells 3,700 Shares of Rumble Inc. (NASDAQ:RUM)

Sanctuary Wealth Management L.L.C. reduced its stake in shares of Rumble Inc. (NASDAQ:RUM) by 45.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,480 shares of the company’s stock after selling 3,700 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in Rumble were worth $58,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IFP Advisors Inc boosted its holdings in Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Rumble by 50.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after purchasing an additional 980 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Rumble by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock valued at $174,000 after purchasing an additional 1,510 shares during the last quarter. Sigma Planning Corp increased its position in shares of Rumble by 17.8% during the fourth quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock worth $343,000 after buying an additional 3,985 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rumble by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock worth $166,000 after buying an additional 5,348 shares during the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher Pavlovski sold 354,849 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $2,661,367.50. Following the completion of the sale, the chief executive officer now owns 522,927 shares in the company, valued at $3,921,952.50. This represents a 40.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ryan Milnes sold 24,978,210 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the completion of the sale, the director now owns 57,290 shares of the company’s stock, valued at approximately $429,675. This represents a 99.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,104,017 shares of company stock worth $308,280,128 over the last quarter. 70.10% of the stock is currently owned by corporate insiders.

Rumble Trading Down 6.0 %

NASDAQ:RUM opened at $7.24 on Friday. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -11.49 and a beta of 0.56. The firm has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $8.52.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush lowered their price objective on Rumble from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday. Maxim Group began coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price for the company.

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.