Handelsbanken Fonder AB Takes $171,000 Position in Rumble Inc. $RUM

Handelsbanken Fonder AB purchased a new position in shares of Rumble Inc. (NASDAQ:RUM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,000 shares of the company’s stock, valued at approximately $171,000.

Several other institutional investors also recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Rumble in the second quarter valued at $352,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Rumble in the 2nd quarter valued at about $162,000. Geode Capital Management LLC grew its position in shares of Rumble by 57.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company’s stock valued at $21,313,000 after buying an additional 864,677 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Rumble in the second quarter valued at about $145,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Rumble during the second quarter worth about $494,000. Institutional investors own 26.15% of the company’s stock.

Rumble Trading Up 0.4%

NASDAQ:RUM opened at $6.79 on Monday. The firm has a fifty day simple moving average of $6.89 and a two-hundred day simple moving average of $7.98. Rumble Inc. has a 12 month low of $5.11 and a 12 month high of $17.40. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -5.06 and a beta of 0.69.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Rumble had a negative net margin of 275.47% and a negative return on equity of 78.52%. The firm had revenue of $24.76 million during the quarter, compared to analyst estimates of $26.86 million. Rumble’s revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RUM has been the topic of several analyst reports. Wall Street Zen cut Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rumble in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Insider Buying and Selling at Rumble

In other Rumble news, major shareholder Holdings S.A. De C.V. Tether acquired 440,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average cost of $5.38 per share, with a total value of $2,367,200.00. Following the completion of the purchase, the insider owned 104,126,525 shares of the company’s stock, valued at approximately $560,200,704.50. This represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 1,063,670 shares of company stock valued at $5,768,906 over the last 90 days. 70.10% of the stock is currently owned by company insiders.

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.