Charles Schwab Investment Management Inc. Buys 14,476 Shares of Rumble Inc. (NASDAQ:RUM)

Charles Schwab Investment Management Inc. boosted its stake in Rumble Inc. (NASDAQ:RUM) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,793 shares of the company’s stock after acquiring an additional 14,476 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rumble were worth $6,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake 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 valued at $38,000 after purchasing an additional 980 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Rumble by 423.1% in the fourth quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock valued at $104,000 after buying an additional 6,473 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Rumble in the fourth quarter valued at $340,000. Bank of New York Mellon Corp boosted its position in Rumble by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock valued at $174,000 after acquiring an additional 1,510 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in Rumble by 70.9% during the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after acquiring an additional 830 shares during the period. Institutional investors and hedge funds own 26.15% of the company’s stock.

Insider Activity

In other Rumble news, Director Ryan Milnes sold 24,978,210 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 transaction of $187,336,575.00. Following the transaction, the director now owns 57,290 shares in the company, valued at approximately $429,675. This represents a 99.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Pavlovski sold 354,849 shares of Rumble stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the transaction, the chief executive officer now owns 522,927 shares of the company’s stock, valued at $3,921,952.50. This represents a 40.43 % decrease in their ownership of the stock. 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 in the last three months. Company insiders own 70.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Maxim Group initiated coverage on Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price target on the stock.

Rumble Trading Up 3.5 %

RUM opened at $8.01 on Tuesday. The company has a fifty day moving average price of $10.52 and a two-hundred day moving average price of $8.47. Rumble Inc. has a 1-year low of $4.92 and a 1-year high of $17.38. The company has a market cap of $3.12 billion, a P/E ratio of -12.71 and a beta of 0.56.

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.