Price T Rowe Associates Inc. MD Acquires 4,100 Shares of Rumble Inc. (NASDAQ:RUM)

Price T Rowe Associates Inc. MD lifted its holdings in Rumble Inc. (NASDAQ:RUM) by 29.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,800 shares of the company’s stock after purchasing an additional 4,100 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Rumble were worth $232,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RUM. Vanguard Group Inc. increased its holdings in Rumble by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock worth $103,723,000 after acquiring an additional 229,294 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rumble by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company’s stock valued at $13,550,000 after buying an additional 5,326 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rumble by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company’s stock valued at $6,411,000 after buying an additional 14,476 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Rumble during the 4th quarter valued at approximately $2,540,000. Finally, LPL Financial LLC grew its holdings in Rumble by 18.9% during the 4th quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after buying an additional 17,391 shares in the last quarter. Institutional investors own 26.15% of the company’s stock.

Rumble Trading Up 1.5%

NASDAQ:RUM opened at $10.47 on Friday. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -16.62 and a beta of 0.69. The stock has a fifty day simple moving average of $7.98 and a 200-day simple moving average of $9.12.

Rumble (NASDAQ:RUM) last released its earnings results on Tuesday, March 25th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.02). The business had revenue of $30.20 million for the quarter, compared to the consensus estimate of $29.74 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. As a group, equities research analysts predict that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wedbush set a $8.00 target price on shares of Rumble and gave the company a “neutral” rating in a report on Tuesday, April 15th.

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.