Rumble (NASDAQ:RUM) Major Shareholder Holdings S.A. De C.V. Tether Acquires 440,000 Shares of Stock

Rumble Inc. (NASDAQ:RUM) major shareholder Holdings S.A. De C.V. Tether purchased 440,000 shares of Rumble stock in a transaction dated Thursday, November 20th. The stock was bought at an average price of $5.38 per share, with a total value of $2,367,200.00. Following the completion of the purchase, the insider directly owned 104,126,525 shares of the company’s stock, valued at approximately $560,200,704.50. This trade represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings S.A. De C.V. Tether also recently made the following trade(s):

• On Friday, November 21st, Holdings S.A. De C.V. Tether acquired 270,478 shares of Rumble stock. The shares were bought at an average price of $5.46 per share, for a total transaction of $1,476,809.88.
• On Wednesday, November 19th, Holdings S.A. De C.V. Tether bought 353,192 shares of Rumble stock. The stock was bought at an average cost of $5.45 per share, with a total value of $1,924,896.40.

Rumble Stock Up 7.0%

RUM traded up $0.37 during mid-day trading on Friday, reaching $5.69. 4,714,378 shares of the company traded hands, compared to its average volume of 3,713,121. The company’s fifty day moving average price is $6.98 and its 200-day moving average price is $8.08. The stock has a market capitalization of $2.47 billion, a P/E ratio of -4.25 and a beta of 0.69. Rumble Inc. has a 52-week low of $5.11 and a 52-week high of $17.40.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $24.76 million during the quarter, compared to the consensus estimate of $26.86 million. Rumble had a negative return on equity of 78.52% and a negative net margin of 275.47%.The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RUM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rumble in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RUM. Vanguard Group Inc. increased its holdings in Rumble by 20.2% in the 1st quarter. Vanguard Group Inc. now owns 9,585,466 shares of the company’s stock worth $67,769,000 after acquiring an additional 1,612,891 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rumble by 57.3% during the second quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company’s stock valued at $21,313,000 after purchasing an additional 864,677 shares in the last quarter. UBS Group AG boosted its position in shares of Rumble by 4.6% in the third quarter. UBS Group AG now owns 1,064,072 shares of the company’s stock worth $7,704,000 after purchasing an additional 46,925 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rumble by 41.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 698,074 shares of the company’s stock worth $4,935,000 after purchasing an additional 205,281 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Rumble by 0.4% in the second quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock worth $5,725,000 after purchasing an additional 2,678 shares in the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.