Mirae Asset Global Investments Co. Ltd. Buys 7,647 Shares of Rumble Inc. (NASDAQ:RUM)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Rumble Inc. (NASDAQ:RUM) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,025 shares of the company’s stock after purchasing an additional 7,647 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rumble were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Solano Wealth Management Inc. bought a new stake in Rumble in the third quarter valued at about $51,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Rumble by 20.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 17,504 shares of the company’s stock worth $89,000 after acquiring an additional 2,977 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of Rumble by 26.8% in the third quarter. Sigma Planning Corp now owns 24,341 shares of the company’s stock worth $124,000 after acquiring an additional 5,150 shares in the last quarter. Resolute Advisors LLC increased its holdings in shares of Rumble by 18.2% in the third quarter. Resolute Advisors LLC now owns 26,000 shares of the company’s stock worth $133,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Rumble by 7.9% in the third quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company’s stock worth $181,000 after acquiring an additional 2,581 shares in the last quarter. Institutional investors own 26.15% of the company’s stock.

Insider Buying and Selling

In related news, insider Claudio Ramolo sold 300,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.18, for a total transaction of $2,154,000.00. Following the completion of the transaction, the insider now directly owns 6,203 shares in the company, valued at $44,537.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Wojciech Hlibowicki sold 275,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.20, for a total transaction of $1,980,000.00. Following the completion of the transaction, the chief technology officer now directly owns 31,776 shares of the company’s stock, valued at $228,787.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Claudio Ramolo sold 300,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.18, for a total value of $2,154,000.00. Following the transaction, the insider now directly owns 6,203 shares of the company’s stock, valued at $44,537.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,683,896 shares of company stock worth $11,821,229. 72.90% of the stock is owned by corporate insiders.

Rumble Price Performance

Shares of Rumble stock opened at $6.53 on Friday. Rumble Inc. has a 1 year low of $3.33 and a 1 year high of $11.25. The business has a 50-day moving average of $7.03 and a two-hundred day moving average of $5.80. The company has a market capitalization of $2.52 billion, a P/E ratio of -11.46 and a beta of 0.82.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The business had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. Rumble’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned ($0.06) earnings per share. On average, equities analysts anticipate that Rumble Inc. will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer restated a “market perform” rating on shares of Rumble in a report on Thursday, March 28th.

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.