Virtu Financial LLC Raises Stock Holdings in Rumble Inc. (NASDAQ:RUM)

Virtu Financial LLC boosted its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 88.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,589 shares of the company’s stock after purchasing an additional 11,539 shares during the quarter. Virtu Financial LLC’s holdings in Rumble were worth $320,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Barclays PLC lifted its holdings in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after buying an additional 11,784 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rumble by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after acquiring an additional 24,879 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Rumble in the 3rd quarter valued at approximately $185,000. Finally, FMR LLC raised its position in shares of Rumble by 995.3% during the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after acquiring an additional 20,343 shares in the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RUM shares. Maxim Group assumed coverage on shares of Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company. Wedbush decreased their price target on shares of Rumble from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday.

Rumble Trading Down 1.7 %

Shares of Rumble stock opened at $7.70 on Friday. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.38. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -12.22 and a beta of 0.56. The business’s 50 day simple moving average is $10.33 and its 200-day simple moving average is $8.48.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, March 25th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $30.20 million during the quarter, compared to analyst estimates of $29.74 million. The firm’s revenue was up 48.0% compared to the same quarter last year. Sell-side analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Activity at Rumble

In related news, COO Tyler Hughes sold 312,727 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,345,452.50. Following the completion of the transaction, the chief operating officer now directly owns 65,127 shares of the company’s stock, valued at $488,452.50. This represents a 82.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Pavlovski sold 354,849 shares of Rumble stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $2,661,367.50. Following the sale, the chief executive officer now directly owns 522,927 shares in the company, valued at $3,921,952.50. The trade was a 40.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,104,017 shares of company stock worth $308,280,128 in the last ninety days. 70.10% of the stock is owned by insiders.

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.