Charles Schwab Investment Management Inc. Acquires 24,879 Shares of Rumble Inc. (NASDAQ:RUM)

Charles Schwab Investment Management Inc. increased its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,317 shares of the company’s stock after purchasing an additional 24,879 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.12% of Rumble worth $2,564,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RUM. RIA Advisory Group LLC acquired a new position in shares of Rumble during the 3rd quarter worth approximately $81,000. Cypress Point Wealth Management LLC bought a new position in shares of Rumble during the 3rd quarter worth approximately $98,000. Total Clarity Wealth Management Inc. bought a new position in shares of Rumble during the 2nd quarter worth approximately $161,000. Redwood Wealth Management Group LLC bought a new position in shares of Rumble during the 2nd quarter worth approximately $30,000. Finally, Arizona State Retirement System bought a new stake in Rumble in the 2nd quarter valued at $91,000. Institutional investors own 26.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rumble Stock Up 1.6 %

Shares of Rumble stock opened at $8.30 on Monday. The company has a market cap of $3.23 billion, a PE ratio of -13.17 and a beta of 0.81. The business has a 50 day moving average price of $6.37 and a 200-day moving average price of $6.02. Rumble Inc. has a 52 week low of $3.33 and a 52 week high of $9.20.

Rumble (NASDAQ:RUM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS 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 return on equity of 62.75% and a negative net margin of 152.81%. During the same period in the previous year, the business earned ($0.14) earnings per share. As a group, research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Rumble

In other news, Director Robert Arsov sold 29,988 shares of the stock in a transaction 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 transaction, the director now directly owns 12,487,349 shares of the company’s stock, valued at $86,162,708.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 169,988 shares of company stock valued at $986,517 in the last 90 days. Insiders own 72.90% of the company’s stock.

Rumble Profile

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.