State Street Corp Has $4.49 Million Stake in Rumble Inc. (NASDAQ:RUM)

State Street Corp lowered its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,448 shares of the company’s stock after selling 4,489 shares during the period. State Street Corp owned about 0.22% of Rumble worth $4,489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RUM. Redwood Wealth Management Group LLC bought a new position in shares of Rumble during the 2nd quarter worth approximately $30,000. Bank of New York Mellon Corp acquired a new position in Rumble during the second quarter worth $66,000. RIA Advisory Group LLC bought a new position in shares of Rumble during the third quarter valued at $81,000. Arizona State Retirement System acquired a new stake in shares of Rumble in the 2nd quarter valued at $91,000. Finally, Cypress Point Wealth Management LLC bought a new stake in shares of Rumble in the 3rd quarter worth about $98,000. Institutional investors own 26.15% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total transaction of $140,800.00. Following the completion of the sale, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 169,988 shares of company stock valued at $986,517. 72.90% of the stock is currently owned by corporate insiders.

Rumble Price Performance

NASDAQ RUM opened at $15.23 on Monday. The stock’s 50 day simple moving average is $7.44 and its 200 day simple moving average is $6.36. The firm has a market cap of $5.93 billion, a PE ratio of -24.17 and a beta of 0.81. Rumble Inc. has a one year low of $3.33 and a one year high of $17.40.

Rumble (NASDAQ:RUM) last announced its 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). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. During the same period in the prior year, the firm posted ($0.14) earnings per share. As a group, equities analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

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.