KLP Kapitalforvaltning AS Buys 4,900 Shares of Rumble Inc. $RUM

KLP Kapitalforvaltning AS increased its stake in shares of Rumble Inc. (NASDAQ:RUM) by 46.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,500 shares of the company’s stock after acquiring an additional 4,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Rumble were worth $139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Rumble by 28,571.4% during the first quarter. Golden State Wealth Management LLC now owns 4,014 shares of the company’s stock worth $28,000 after acquiring an additional 4,000 shares during the period. CWM LLC increased its position in Rumble by 104.3% during the first quarter. CWM LLC now owns 4,395 shares of the company’s stock worth $31,000 after acquiring an additional 2,244 shares during the period. Raleigh Capital Management Inc. increased its position in Rumble by 8,900.0% during the first quarter. Raleigh Capital Management Inc. now owns 4,500 shares of the company’s stock worth $32,000 after acquiring an additional 4,450 shares during the period. AlphaQuest LLC increased its position in Rumble by 711.8% during the first quarter. AlphaQuest LLC now owns 7,095 shares of the company’s stock worth $50,000 after acquiring an additional 6,221 shares during the period. Finally, MAI Capital Management increased its position in Rumble by 110.4% during the first quarter. MAI Capital Management now owns 9,529 shares of the company’s stock worth $67,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 26.15% of the company’s stock.

Analysts Set New Price Targets

RUM has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rumble in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rumble has an average rating of “Hold” and an average target price of $14.00.

Rumble Stock Down 0.4%

Shares of NASDAQ RUM opened at $7.30 on Wednesday. The firm’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $8.30. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -5.10 and a beta of 0.69. Rumble Inc. has a 12-month low of $5.25 and a 12-month high of $17.40.

Rumble (NASDAQ:RUM) last issued its quarterly 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). The company had revenue of $25.09 million for the quarter, compared to analyst estimates of $26.78 million. Rumble had a negative return on equity of 97.99% and a negative net margin of 289.37%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Rumble 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.