Rumble (NASDAQ:RUM) Major Shareholder Purchases $1,924,896.40 in Stock

Rumble Inc. (NASDAQ:RUM) major shareholder Holdings S.A. De C.V. Tether acquired 353,192 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $5.45 per share, for a total transaction of $1,924,896.40. Following the transaction, the insider directly owned 103,686,525 shares of the company’s stock, valued at $565,091,561.25. This represents a 0.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 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 purchased 270,478 shares of Rumble stock. The shares were acquired at an average price of $5.46 per share, for a total transaction of $1,476,809.88.
• On Thursday, November 20th, Holdings S.A. De C.V. Tether acquired 440,000 shares of Rumble stock. The stock was bought at an average price of $5.38 per share, with a total value of $2,367,200.00.

Rumble Price Performance

RUM traded up $0.37 during midday trading on Friday, reaching $5.69. 4,714,378 shares of the company’s stock traded hands, compared to its average volume of 3,093,749. The firm has a fifty day moving average of $6.98 and a two-hundred day moving average of $8.08. Rumble Inc. has a 52 week low of $5.11 and a 52 week high of $17.40. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -4.25 and a beta of 0.69.

Rumble (NASDAQ:RUM) last released its earnings results on Monday, November 10th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Rumble had a negative net margin of 275.47% and a negative return on equity of 78.52%. The firm had revenue of $24.76 million during the quarter, compared to analysts’ expectations of $26.86 million. The business’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Rumble Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Rumble

A number of large investors have recently added to or reduced their stakes in RUM. Meeder Asset Management Inc. purchased a new position in shares of Rumble in the third quarter valued at approximately $28,000. CWM LLC grew its holdings in shares of Rumble by 104.3% during the 1st quarter. CWM LLC now owns 4,395 shares of the company’s stock worth $31,000 after purchasing an additional 2,244 shares during the period. Mather Group LLC. acquired a new position in shares of Rumble in the 3rd quarter worth approximately $43,000. AlphaQuest LLC raised its position in Rumble by 711.8% in the first quarter. AlphaQuest LLC now owns 7,095 shares of the company’s stock valued at $50,000 after purchasing an additional 6,221 shares during the period. Finally, MAI Capital Management lifted its stake in Rumble by 110.4% during the 1st quarter. MAI Capital Management now owns 9,529 shares of the company’s stock worth $67,000 after acquiring an additional 5,000 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on RUM shares. Wall Street Zen downgraded Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rumble in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rumble presently has a consensus rating of “Hold” and a consensus price target of $14.00.

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.