Vanguard Group Inc. Boosts Holdings in Rumble Inc. (NASDAQ:RUM)

Vanguard Group Inc. increased its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,972,575 shares of the company’s stock after buying an additional 229,294 shares during the period. Vanguard Group Inc.’s holdings in Rumble were worth $103,723,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RUM. Geode Capital Management LLC raised its stake in shares of Rumble by 14.5% in the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after acquiring an additional 130,956 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rumble by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company’s stock worth $6,411,000 after purchasing an additional 14,476 shares during the period. LPL Financial LLC raised its position in Rumble by 18.9% in the 4th quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after purchasing an additional 17,391 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Rumble in the 4th quarter valued at about $468,000. Finally, MML Investors Services LLC purchased a new stake in shares of Rumble during the third quarter worth approximately $185,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Rumble Trading Up 17.4 %

Shares of Rumble stock opened at $8.15 on Thursday. The company has a fifty day simple moving average of $9.20 and a 200-day simple moving average of $8.65. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -12.94 and a beta of 0.70.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.02). The firm had revenue of $30.20 million for the quarter, compared to analysts’ expectations of $29.74 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. On average, analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RUM. Wedbush reduced their price objective on shares of Rumble from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. Maxim Group started coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price on the stock.

Insider Buying and Selling

In other news, insider Claudio Ramolo sold 4,812,646 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $36,094,845.00. Following the completion of the sale, the insider now owns 14,283 shares in the company, valued at $107,122.50. This represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brandon Alexandroff sold 6,828,420 shares of Rumble stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the completion of the transaction, the chief financial officer now owns 64,210 shares in the company, valued at approximately $481,575. This trade represents a 99.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,104,017 shares of company stock worth $308,280,128 in the last 90 days. Company insiders own 70.10% of the company’s stock.

Rumble Company 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.