Rumble Inc. (NASDAQ:RUM) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Rumble Inc. (NASDAQ:RUM) by 20.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,746 shares of the company’s stock after selling 17,945 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Rumble were worth $385,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Rumble by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Rumble during the second quarter valued at $66,000. SG Americas Securities LLC acquired a new position in Rumble during the second quarter valued at $67,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rumble in the 2nd quarter worth about $142,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Rumble by 5.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after acquiring an additional 8,824 shares in the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Rumble Trading Down 1.1 %

NASDAQ RUM opened at $7.19 on Friday. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $9.20. The firm’s fifty day simple moving average is $6.61 and its 200-day simple moving average is $6.08. The company has a market capitalization of $2.80 billion, a PE ratio of -11.41 and a beta of 0.81.

Rumble (NASDAQ:RUM) last posted 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 firm had revenue of $25.06 million for the quarter, compared to analysts’ expectations 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 last year, the business earned ($0.14) earnings per share. As a group, analysts predict 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 company’s stock in a transaction dated 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 sale, the director now owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 169,988 shares of company stock worth $986,517 over the last ninety days. 72.90% 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.