Rumble Inc. $RUM Stock Position Decreased by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Rumble Inc. (NASDAQ:RUMFree Report) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,786,584 shares of the company’s stock after selling 147,958 shares during the period. Vanguard Group Inc. owned 2.02% of Rumble worth $55,531,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of Rumble during the 2nd quarter valued at about $75,000. Russell Investments Group Ltd. bought a new stake in shares of Rumble during the 3rd quarter valued at about $72,000. Wedbush Securities Inc. bought a new stake in shares of Rumble during the 3rd quarter valued at about $76,000. PFG Investments LLC bought a new stake in shares of Rumble during the 3rd quarter valued at about $76,000. Finally, Prudential Financial Inc. bought a new stake in shares of Rumble during the 2nd quarter valued at about $99,000. Institutional investors own 26.15% of the company’s stock.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RUM. Wall Street Zen raised shares of Rumble from a “strong sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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Rumble Stock Down 11.9%

Rumble stock opened at $7.20 on Friday. The firm has a 50-day moving average price of $6.00 and a two-hundred day moving average price of $6.19. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -16.74 and a beta of 1.02. Rumble Inc. has a 52-week low of $4.62 and a 52-week high of $10.99.

Rumble (NASDAQ:RUMGet Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $27.07 million during the quarter, compared to analyst estimates of $27.09 million. Rumble had a negative return on equity of 40.78% and a negative net margin of 106.91%.The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.15) earnings per share. Research analysts expect that Rumble Inc. will post -0.32 earnings per share for the current year.

Rumble Profile

(Free Report)

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.

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Institutional Ownership by Quarter for Rumble (NASDAQ:RUM)

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