Rumble Inc. (NASDAQ:RUM) Stock Position Raised by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 175,927 shares of the company’s stock after buying an additional 8,824 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rumble were worth $976,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RUM. Empirical Capital Management LLC bought a new stake in shares of Rumble in the 1st quarter worth approximately $1,584,000. HighPoint Advisor Group LLC bought a new stake in Rumble in the fourth quarter valued at $499,000. Janney Montgomery Scott LLC boosted its holdings in shares of Rumble by 34.4% during the first quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock valued at $862,000 after acquiring an additional 27,289 shares during the period. Virtu Financial LLC bought a new position in shares of Rumble during the first quarter worth about $339,000. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Rumble in the 1st quarter worth about $335,000. Institutional investors own 26.15% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a research note on Tuesday, August 13th.

Rumble Trading Up 0.7 %

Shares of NASDAQ RUM opened at $5.59 on Friday. Rumble Inc. has a 12-month low of $3.33 and a 12-month high of $9.20. The company has a market cap of $2.17 billion, a PE ratio of -8.73 and a beta of 0.77. The stock has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $6.51.

Rumble (NASDAQ:RUM) last announced its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Rumble had a negative net margin of 163.37% and a negative return on equity of 54.31%. The business had revenue of $22.47 million for the quarter, compared to the consensus estimate of $19.69 million. Sell-side analysts forecast that Rumble Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $6.12, for a total transaction of $183,600.00. Following the transaction, the director now owns 14,937,337 shares of the company’s stock, valued at approximately $91,416,502.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 195,000 shares of company stock valued at $1,118,325 over the last 90 days. 72.90% of the stock is currently owned by company insiders.

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.