Rumble Inc. $RUM Shares Purchased by AlphaQuest LLC

AlphaQuest LLC grew its stake in shares of Rumble Inc. (NASDAQ:RUM) by 711.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,095 shares of the company’s stock after acquiring an additional 6,221 shares during the period. AlphaQuest LLC’s holdings in Rumble were worth $50,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Rumble by 20.2% during the 1st quarter. Vanguard Group Inc. now owns 9,585,466 shares of the company’s stock valued at $67,769,000 after acquiring an additional 1,612,891 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Rumble by 9,234.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company’s stock valued at $17,587,000 after acquiring an additional 1,337,321 shares during the last quarter. Millennium Management LLC lifted its position in shares of Rumble by 287.7% during the 4th quarter. Millennium Management LLC now owns 781,747 shares of the company’s stock valued at $10,171,000 after acquiring an additional 580,105 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rumble by 41.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,074 shares of the company’s stock valued at $4,935,000 after acquiring an additional 205,281 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Rumble by 2.8% during the 4th quarter. Ameriprise Financial Inc. now owns 638,316 shares of the company’s stock valued at $8,304,000 after acquiring an additional 17,100 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Rumble Stock Down 1.2%

Shares of NASDAQ:RUM opened at $7.13 on Friday. The company’s fifty day moving average is $8.49 and its two-hundred day moving average is $8.52. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40. The company has a market cap of $3.10 billion, a P/E ratio of -4.99 and a beta of 0.70.

Rumble (NASDAQ:RUM) last announced its earnings results on Sunday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. The firm had revenue of $25.09 million for the quarter, compared to analyst estimates of $26.78 million. Rumble’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Rumble has a consensus rating of “Moderate Buy” 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.