Stonegate Investment Group LLC Takes Position in Rumble Inc. (NASDAQ:RUM)

Stonegate Investment Group LLC purchased a new stake in Rumble Inc. (NASDAQ:RUM) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 10,000 shares of the company’s stock, valued at approximately $130,000.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Rumble by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after buying an additional 130,956 shares during the last quarter. Barclays PLC grew its position in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after buying an additional 11,784 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rumble by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after buying an additional 24,879 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of Rumble in the 3rd quarter worth approximately $185,000. Finally, FMR LLC grew its position in shares of Rumble by 995.3% in the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock worth $120,000 after buying an additional 20,343 shares during the last quarter. Institutional investors own 26.15% of the company’s stock.

Rumble Trading Down 3.2 %

NASDAQ:RUM opened at $12.20 on Thursday. The company’s 50 day moving average is $10.30 and its two-hundred day moving average is $7.42. The company has a market cap of $4.76 billion, a PE ratio of -19.37 and a beta of 0.52. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $25.06 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned ($0.14) earnings per share. As a group, analysts expect that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Arsov sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total value of $177,900.00. Following the completion of the transaction, the director now directly owns 12,517,337 shares in the company, valued at $74,227,808.41. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 114,988 shares of company stock valued at $701,617 in the last ninety days. Insiders own 70.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on RUM shares. Maxim Group started coverage on shares of Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price on the stock. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th.

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.