Rumble Inc. (NASDAQ:RUM) Shares Bought by Barclays PLC

Barclays PLC boosted its position in shares of Rumble Inc. (NASDAQ:RUM) by 663.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,559 shares of the company’s stock after buying an additional 11,784 shares during the period. Barclays PLC’s holdings in Rumble were worth $72,000 at the end of the most recent quarter.

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

Rumble Trading Down 12.3 %

Shares of NASDAQ:RUM opened at $11.65 on Friday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -18.49 and a beta of 0.52. Rumble Inc. has a 12-month low of $3.33 and a 12-month high of $17.40. The business has a 50-day moving average price of $8.70 and a 200 day moving average price of $6.81.

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). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The company had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. As a group, equities research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rumble news, Director Robert Arsov sold 29,988 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the sale, the director now directly owns 12,487,349 shares in the company, valued at $86,162,708.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 114,988 shares of company stock worth $701,617 over the last ninety days. Corporate insiders own 72.90% of the company’s stock.

Analysts Set New Price Targets

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

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.