Solano Wealth Management Inc. Invests $83,000 in Rumble Inc. (NASDAQ:RUM)

Solano Wealth Management Inc. acquired a new stake in Rumble Inc. (NASDAQ:RUM) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 15,000 shares of the company’s stock, valued at approximately $83,000.

Other large investors have also recently bought and sold shares of the company. Empirical Capital Management LLC acquired a new position in Rumble during the first quarter valued at approximately $1,584,000. HighPoint Advisor Group LLC bought a new stake in shares of Rumble during the 4th quarter worth $499,000. Virtu Financial LLC acquired a new position in Rumble in the 1st quarter valued at $339,000. Avantax Advisory Services Inc. bought a new position in Rumble in the 1st quarter worth $335,000. Finally, Foundations Investment Advisors LLC acquired a new position in Rumble during the 4th quarter worth $152,000. 26.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert Arsov sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $6.06, for a total transaction of $181,800.00. Following the transaction, the director now owns 15,083,902 shares of the company’s stock, valued at $91,408,446.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 200,000 shares of company stock valued at $1,176,525. 72.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Rumble Stock Up 3.0 %

RUM opened at $5.75 on Friday. The stock’s 50 day moving average price is $6.06 and its two-hundred day moving average price is $6.55. Rumble Inc. has a 12-month low of $3.33 and a 12-month high of $9.20.

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.