Geode Capital Management LLC Boosts Stake in Rumble Inc. (NASDAQ:RUM)

Geode Capital Management LLC raised its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 0.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,041,044 shares of the company’s stock after purchasing an additional 5,326 shares during the quarter. Geode Capital Management LLC’s holdings in Rumble were worth $13,550,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in Rumble by 70.9% during the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after acquiring an additional 830 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after purchasing an additional 980 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Rumble during the third quarter valued at $70,000. Barclays PLC grew its holdings in shares of Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Rumble in the fourth quarter worth about $78,000. Institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

Shares of Rumble stock opened at $7.16 on Monday. Rumble Inc. has a 1 year low of $4.92 and a 1 year high of $17.40. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -11.37 and a beta of 0.70. The firm’s 50-day moving average is $8.47 and its two-hundred day moving average is $8.77.

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

Analyst Ratings Changes

Several research firms have issued reports on RUM. Maxim Group assumed coverage on shares of Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company. Wedbush set a $8.00 price target on Rumble and gave the company a “neutral” rating in a report on Tuesday, April 15th.

Insider Buying and Selling

In other news, Director Ryan Milnes sold 24,978,210 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the transaction, the director now owns 57,290 shares in the company, valued at $429,675. This represents a 99.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Tyler Hughes sold 312,727 shares of Rumble 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 $2,345,452.50. Following the completion of the sale, the chief operating officer now owns 65,127 shares of the company’s stock, valued at $488,452.50. This trade represents a 82.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,104,017 shares of company stock worth $308,280,128 in the last three months. 70.10% of the stock is owned by insiders.

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.