Rumble Inc. (NASDAQ:RUM) Shares Bought by Fmr LLC

Fmr LLC increased its stake in Rumble Inc. (NASDAQ:RUM) by 995.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,387 shares of the company’s stock after purchasing an additional 20,343 shares during the quarter. Fmr LLC’s holdings in Rumble were worth $120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RUM. Charles Schwab Investment Management Inc. raised its holdings in shares of Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after acquiring an additional 24,879 shares during the period. RIA Advisory Group LLC acquired a new position in Rumble in the 3rd quarter valued at approximately $81,000. Cypress Point Wealth Management LLC bought a new stake in Rumble in the third quarter valued at about $98,000. Total Clarity Wealth Management Inc. bought a new position in shares of Rumble during the second quarter valued at $161,000. Finally, Redwood Wealth Management Group LLC bought a new stake in Rumble during the 2nd quarter worth approximately $30,000. Institutional investors own 26.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush restated a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Price Performance

Rumble stock opened at $7.19 on Monday. The company’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.08. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -11.41 and a beta of 0.81. Rumble Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $9.20.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same period in the previous year, the firm posted ($0.14) EPS. As a group, analysts predict that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity at Rumble

In other news, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total transaction of $206,917.20. Following the completion of the transaction, the director now directly owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 169,988 shares of company stock valued at $986,517. Corporate insiders own 72.90% of the company’s stock.

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.