Virtu Financial LLC Acquires New Holdings in Rumble Inc. (NASDAQ:RUM)

Virtu Financial LLC bought a new stake in shares of Rumble Inc. (NASDAQ:RUM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 13,050 shares of the company’s stock, valued at approximately $70,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of Rumble by 14.5% in 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in Rumble by 5.5% in the 3rd 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. Cambridge Investment Research Advisors Inc. lifted its holdings in Rumble by 5.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after purchasing an additional 8,824 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Rumble during the 3rd quarter worth about $185,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Rumble during the third quarter worth about $184,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total transaction of $140,800.00. Following the completion of the transaction, the director now directly owns 12,659,837 shares of the company’s stock, valued at approximately $64,818,365.44. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 169,988 shares of company stock valued at $986,517 over the last 90 days. 72.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Stock Performance

RUM stock opened at $7.19 on Friday. The firm has a market cap of $2.80 billion, a P/E ratio of -11.41 and a beta of 0.81. Rumble Inc. has a 1 year low of $3.33 and a 1 year high of $9.20. The stock has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $6.08.

Rumble (NASDAQ:RUM) last posted 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). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. During the same period in the previous year, the company earned ($0.14) earnings per share. On average, equities research analysts predict that Rumble Inc. will post -0.62 EPS for the current year.

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.