Key Points
- Holdings S.A. De C.V. Tether bought 353,192 shares on Nov. 19 at $5.45 ($1.924M) and made additional buys on Nov. 20 (440,000 at $5.38, $2.367M) and Nov. 21 (270,478 at $5.46, $1.477M), totaling 1,063,670 shares and roughly $5.77M in purchases and leaving it with about 103.69M Rumble shares.
- Rumble recently missed estimates (Q EPS -$0.08 vs. -$0.07 expected; revenue $24.76M vs. $26.86M), trades around $5.69 with a $2.47B market cap, and is close to its 52‑week low of $5.11.
Rumble Inc. (NASDAQ:RUM - Get Free Report) major shareholder Holdings S.A. De C.V. Tether acquired 270,478 shares of the stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $5.46 per share, with a total value of $1,476,809.88. Following the completion of the acquisition, the insider owned 104,397,003 shares in the company, valued at approximately $570,007,636.38. The trade was a 0.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Holdings S.A. De C.V. Tether also recently made the following trade(s):
- On Thursday, November 20th, Holdings S.A. De C.V. Tether bought 440,000 shares of Rumble stock. The shares were acquired at an average cost of $5.38 per share, for a total transaction of $2,367,200.00.
- On Wednesday, November 19th, Holdings S.A. De C.V. Tether purchased 353,192 shares of Rumble stock. The stock was acquired at an average cost of $5.45 per share, with a total value of $1,924,896.40.
Rumble Price Performance
NASDAQ RUM traded up $0.37 during trading on Friday, hitting $5.69. 4,714,378 shares of the company's stock traded hands, compared to its average volume of 3,713,121. The stock has a fifty day moving average of $6.98 and a two-hundred day moving average of $8.08. Rumble Inc. has a 12-month low of $5.11 and a 12-month high of $17.40. The firm has a market cap of $2.47 billion, a P/E ratio of -4.25 and a beta of 0.69.
Rumble (NASDAQ:RUM - Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The company had revenue of $24.76 million during the quarter, compared to the consensus estimate of $26.86 million. Rumble had a negative net margin of 275.47% and a negative return on equity of 78.52%. Rumble's revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rumble
Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in shares of Rumble during the third quarter valued at approximately $28,000. CWM LLC boosted its holdings in Rumble by 104.3% in the first quarter. CWM LLC now owns 4,395 shares of the company's stock valued at $31,000 after acquiring an additional 2,244 shares in the last quarter. Mather Group LLC. purchased a new position in Rumble during the 3rd quarter valued at $43,000. AlphaQuest LLC raised its holdings in Rumble by 711.8% in the 1st quarter. AlphaQuest LLC now owns 7,095 shares of the company's stock worth $50,000 after purchasing an additional 6,221 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Rumble in the 2nd quarter worth $72,000. 26.15% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
RUM has been the subject of a number of analyst reports. Wall Street Zen lowered Rumble from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Rumble in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.00.
View Our Latest Report on Rumble
About Rumble
(
Get Free Report)
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.
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