Daiwa Securities Group Inc. Purchases New Shares in Rumble Inc. (NASDAQ:RUM)

Daiwa Securities Group Inc. purchased a new stake in shares of Rumble Inc. (NASDAQ:RUM) in the fourth quarter, Holdings Channel.com reports. The fund purchased 17,827 shares of the company’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Solano Wealth Management Inc. acquired a new stake in Rumble during the 3rd quarter valued at $51,000. Raymond James Financial Services Advisors Inc. boosted its position in Rumble by 20.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 17,504 shares of the company’s stock valued at $89,000 after buying an additional 2,977 shares during the last quarter. Sigma Planning Corp boosted its position in Rumble by 26.8% in the 3rd quarter. Sigma Planning Corp now owns 24,341 shares of the company’s stock valued at $124,000 after buying an additional 5,150 shares during the last quarter. Resolute Advisors LLC boosted its position in Rumble by 18.2% in the 3rd quarter. Resolute Advisors LLC now owns 26,000 shares of the company’s stock valued at $133,000 after buying an additional 4,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Rumble by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company’s stock valued at $181,000 after buying an additional 2,581 shares during the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

Rumble Stock Performance

Shares of RUM opened at $6.53 on Friday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of -11.46 and a beta of 0.82. The business’s fifty day moving average price is $7.03 and its two-hundred day moving average price is $5.80. Rumble Inc. has a 52 week low of $3.33 and a 52 week high of $11.25.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. During the same period last year, the company earned ($0.06) EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts forecast that Rumble Inc. will post -0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a research report on Thursday, March 28th.

Insider Transactions at Rumble

In other news, Director David O. Sacks sold 133,896 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $6.45, for a total value of $863,629.20. Following the transaction, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rumble news, CFO Brandon Alexandroff sold 900,000 shares of Rumble stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the transaction, the chief financial officer now directly owns 31,776 shares in the company, valued at $222,432. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David O. Sacks sold 133,896 shares of Rumble stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $6.45, for a total value of $863,629.20. Following the transaction, the director now owns 3,390 shares in the company, valued at $21,865.50. The disclosure for this sale can be found here. Insiders have sold 1,683,896 shares of company stock worth $11,821,229 in the last three months. Insiders own 72.90% of the company’s stock.

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.