Rumble (NASDAQ:RUM) Major Shareholder Holdings S.A. De C.V. Tether Purchases 353,192 Shares

Rumble Inc. (NASDAQ:RUM) major shareholder Holdings S.A. De C.V. Tether acquired 353,192 shares of Rumble stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $5.45 per share, with a total value of $1,924,896.40. Following the purchase, the insider owned 103,686,525 shares of the company’s stock, valued at $565,091,561.25. The trade was a 0.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Holdings S.A. De C.V. Tether also recently made the following trade(s):

• On Friday, November 21st, Holdings S.A. De C.V. Tether acquired 270,478 shares of Rumble stock. The stock was acquired at an average cost of $5.46 per share, for a total transaction of $1,476,809.88.
• On Thursday, November 20th, Holdings S.A. De C.V. Tether bought 440,000 shares of Rumble stock. The shares were bought at an average price of $5.38 per share, for a total transaction of $2,367,200.00.

Rumble Stock Up 7.0%

NASDAQ RUM traded up $0.37 during mid-day trading on Friday, hitting $5.69. The stock had a trading volume of 4,714,378 shares, compared to its average volume of 3,093,749. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -4.25 and a beta of 0.69. Rumble Inc. has a 52-week low of $5.11 and a 52-week high of $17.40. The company has a 50 day simple moving average of $6.98 and a 200 day simple moving average of $8.08.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $24.76 million for the quarter, compared to analysts’ expectations of $26.86 million. Rumble had a negative return on equity of 78.52% and a negative net margin of 275.47%.Rumble’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rumble

A number of large investors have recently bought and sold shares of the business. Silver Oak Securities Incorporated increased its position in Rumble by 3.7% in the 3rd quarter. Silver Oak Securities Incorporated now owns 38,939 shares of the company’s stock valued at $282,000 after acquiring an additional 1,400 shares in the last quarter. Merit Financial Group LLC increased its stake in Rumble by 12.7% in the third quarter. Merit Financial Group LLC now owns 14,038 shares of the company’s stock valued at $102,000 after purchasing an additional 1,577 shares in the last quarter. Arizona State Retirement System raised its stake in Rumble by 9.4% during the 1st quarter. Arizona State Retirement System now owns 18,727 shares of the company’s stock worth $132,000 after buying an additional 1,615 shares during the period. CWM LLC grew its position in shares of Rumble by 41.9% in the 2nd quarter. CWM LLC now owns 6,238 shares of the company’s stock valued at $56,000 after purchasing an additional 1,843 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Rumble by 12.9% during the third quarter. ProShare Advisors LLC now owns 18,248 shares of the company’s stock worth $132,000 after acquiring an additional 2,091 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RUM. Wall Street Zen downgraded shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Rumble in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.