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

Fmr LLC boosted its holdings in Rumble Inc. (NASDAQ:RUM) by 995.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new stake in Rumble during the 2nd quarter worth approximately $30,000. Bank of New York Mellon Corp acquired a new stake in Rumble in the second quarter valued at $66,000. SG Americas Securities LLC purchased a new stake in shares of Rumble during the 2nd quarter worth $67,000. Solano Wealth Management Inc. acquired a new stake in shares of Rumble in the second quarter valued at about $83,000. Finally, RIA Advisory Group LLC purchased a new position in Rumble in the 3rd quarter valued at approximately $81,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Rumble news, Director Robert Arsov sold 29,988 shares of the stock in a transaction on Monday, December 2nd. The shares were 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 in the company, valued at $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 is available through this link. Over the last quarter, insiders sold 169,988 shares of company stock worth $986,517. 72.90% of the stock is currently owned by corporate insiders.

Rumble Stock Down 1.1 %

Shares of Rumble stock opened at $7.19 on Monday. The firm has a market cap of $2.80 billion, a PE ratio of -11.41 and a beta of 0.81. The business’s fifty day moving average is $6.61 and its two-hundred day moving average is $6.08. Rumble Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $9.20.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The firm had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter last year, the business earned ($0.14) earnings per share. Equities research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.