Momentous Wealth Management Inc. Takes Position in Rumble Inc. (NASDAQ:RUM)

Momentous Wealth Management Inc. acquired a new position in Rumble Inc. (NASDAQ:RUM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,867 shares of the company’s stock, valued at approximately $180,000.

Several other hedge funds also recently added to or reduced their stakes in RUM. IFP Advisors Inc increased its holdings in Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after buying an additional 830 shares during the period. Steward Partners Investment Advisory LLC grew its position in Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after purchasing an additional 980 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Rumble by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock valued at $174,000 after buying an additional 1,510 shares during the last quarter. Sigma Planning Corp grew its holdings in Rumble by 17.8% during the fourth quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock worth $343,000 after acquiring an additional 3,985 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Rumble by 20.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock worth $166,000 after buying an additional 5,348 shares during the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

Rumble Stock Performance

Shares of NASDAQ:RUM opened at $8.01 on Tuesday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -12.71 and a beta of 0.56. Rumble Inc. has a one year low of $4.92 and a one year high of $17.38. The company has a 50-day simple moving average of $10.52 and a 200-day simple moving average of $8.47.

Analyst Ratings Changes

Separately, Maxim Group started coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective on the stock.

Insider Transactions at Rumble

In other news, CTO Wojciech Hlibowicki sold 3,817,165 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $28,628,737.50. Following the completion of the transaction, the chief technology officer now directly owns 4,592 shares of the company’s stock, valued at approximately $34,440. This represents a 99.88 % decrease in their position. The sale 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 that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $2,661,367.50. Following the completion of the sale, the chief executive officer now owns 522,927 shares in the company, valued at approximately $3,921,952.50. This trade represents a 40.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,104,017 shares of company stock worth $308,280,128 over the last 90 days. 70.10% of the stock is currently owned by 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.