TCP Asset Management LLC Has $230,000 Position in Rumble Inc. (NASDAQ:RUM)

TCP Asset Management LLC raised its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 21.3% in the 1st quarter, HoldingsChannel reports. The firm owned 28,520 shares of the company’s stock after buying an additional 5,000 shares during the period. TCP Asset Management LLC’s holdings in Rumble were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in Rumble in the 4th quarter valued at $32,000. Signaturefd LLC bought a new position in Rumble during the 4th quarter worth $32,000. Daiwa Securities Group Inc. acquired a new stake in shares of Rumble during the fourth quarter worth $80,000. LexAurum Advisors LLC bought a new stake in shares of Rumble in the first quarter valued at about $81,000. Finally, Focus Financial Network Inc. ADV acquired a new position in shares of Rumble in the fourth quarter valued at about $101,000. 26.15% of the stock is owned by institutional investors.

Insider Transactions at Rumble

In related news, Director David O. Sacks sold 133,896 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $6.45, for a total transaction of $863,629.20. Following the completion of the sale, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director David O. Sacks sold 133,896 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $6.45, for a total transaction of $863,629.20. Following the completion of the transaction, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Arsov sold 35,012 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $6.70, for a total transaction of $234,580.40. Following the completion of the sale, the director now owns 15,278,902 shares in the company, valued at approximately $102,368,643.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 388,908 shares of company stock valued at $2,492,785. Company insiders own 72.90% of the company’s stock.

Rumble Stock Performance

Shares of RUM stock traded up $0.07 during trading on Wednesday, hitting $5.75. The company had a trading volume of 488,992 shares, compared to its average volume of 4,002,010. The firm has a market capitalization of $2.23 billion, a P/E ratio of -8.98 and a beta of 0.77. The stock’s 50-day moving average price is $6.36 and its 200 day moving average price is $6.30. Rumble Inc. has a one year low of $3.33 and a one year high of $9.20.

Rumble (NASDAQ:RUM) last released its earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $17.73 million for the quarter, compared to analyst estimates of $18.27 million. Rumble had a negative return on equity of 46.51% and a negative net margin of 161.62%. During the same period in the prior year, the firm posted ($0.10) EPS. On average, research analysts anticipate that Rumble Inc. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer restated a “market perform” rating on shares of Rumble in a research report on Thursday, March 28th.

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.