Monaco Asset Management SAM Invests $724,000 in Rumble Inc. $RUM

Monaco Asset Management SAM acquired a new stake in Rumble Inc. (NASDAQ:RUM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $724,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RUM. Meeder Asset Management Inc. bought a new stake in Rumble during the third quarter worth $28,000. Mather Group LLC. acquired a new position in shares of Rumble during the 3rd quarter worth about $43,000. CWM LLC increased its stake in shares of Rumble by 41.9% during the 2nd quarter. CWM LLC now owns 6,238 shares of the company’s stock worth $56,000 after purchasing an additional 1,843 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Rumble in the 2nd quarter valued at about $72,000. Finally, Canada Pension Plan Investment Board bought a new position in Rumble during the second quarter worth about $75,000. 26.15% of the stock is owned by institutional investors.

Insider Activity

In other Rumble news, major shareholder Tether Global Investments Fund bought 538,955 shares of the stock in a transaction dated Thursday, February 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $2,915,746.55. Following the completion of the acquisition, the insider owned 105,129,660 shares of the company’s stock, valued at $568,751,460.60. This trade represents a 0.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 777,012 shares of company stock worth $4,222,236. Corporate insiders own 45.10% of the company’s stock.

Rumble Stock Up 1.4%

Shares of NASDAQ:RUM opened at $5.88 on Friday. The stock has a market cap of $2.56 billion, a PE ratio of -4.39 and a beta of 0.69. The business has a 50 day moving average of $6.24 and a 200-day moving average of $6.87. Rumble Inc. has a 12-month low of $5.11 and a 12-month high of $11.31.

Wall Street Analyst Weigh In

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

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.