Monaco Asset Management SAM Acquires Shares of 100,000 Rumble Inc. $RUM

Monaco Asset Management SAM purchased a new position in Rumble Inc. (NASDAQ:RUM) during the third quarter, Holdings Channel reports. The firm purchased 100,000 shares of the company’s stock, valued at approximately $724,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Rumble by 1.4% in the third quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock valued at $64,686,000 after acquiring an additional 122,788 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rumble by 57.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company’s stock valued at $21,313,000 after purchasing an additional 864,677 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Rumble by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock worth $5,725,000 after buying an additional 2,678 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Rumble by 136.7% during the 1st quarter. Royal Bank of Canada now owns 210,665 shares of the company’s stock worth $1,490,000 after buying an additional 121,650 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Rumble by 752.0% during the 2nd quarter. Sigma Planning Corp now owns 189,615 shares of the company’s stock worth $1,703,000 after buying an additional 167,360 shares during the last quarter. Institutional investors own 26.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Rumble in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $8.00.

Insider Transactions at Rumble

In other Rumble news, major shareholder Tether Global Investments Fund bought 538,955 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $5.41 per share, for a total transaction of $2,915,746.55. Following the transaction, the insider directly owned 105,129,660 shares in the company, valued at approximately $568,751,460.60. This represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 777,012 shares of company stock valued at $4,222,236. 45.10% of the stock is owned by company insiders.

Rumble Trading Up 1.4%

Rumble stock opened at $5.88 on Friday. The stock has a 50-day moving average price of $6.24 and a two-hundred day moving average price of $6.87. Rumble Inc. has a 12 month low of $5.11 and a 12 month high of $11.31. The company has a market capitalization of $2.56 billion, a PE ratio of -4.39 and a beta of 0.69.

About Rumble

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.