Rumble Inc. (NASDAQ:RUM – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $10.96, but opened at $11.32. Rumble shares last traded at $11.20, with a volume of 886,964 shares traded.
Analyst Ratings Changes
Separately, Wedbush reaffirmed a “neutral” rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th.
Read Our Latest Stock Analysis on Rumble
Rumble Stock Performance
Rumble (NASDAQ:RUM – Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $25.06 million for the quarter, compared to the consensus estimate of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. As a group, equities research analysts predict that Rumble Inc. will post -0.62 EPS for the current year.
Insiders Place Their Bets
In other news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.69, for a total transaction of $156,475.00. Following the transaction, the director now directly owns 12,577,337 shares in the company, valued at approximately $71,565,047.53. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 114,988 shares of company stock worth $701,617. 72.90% of the stock is owned by corporate insiders.
Institutional Trading of Rumble
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after acquiring an additional 130,956 shares during the period. MML Investors Services LLC bought a new position in shares of Rumble during the 3rd quarter valued at about $185,000. Janus Henderson Group PLC acquired a new position in shares of Rumble in the 3rd quarter worth approximately $184,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Rumble in the 2nd quarter worth approximately $161,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after purchasing an additional 24,879 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.
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.
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