253,972 Shares in Rumble Inc. (NASDAQ:RUM) Bought by Centiva Capital LP

Centiva Capital LP bought a new stake in Rumble Inc. (NASDAQ:RUM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 253,972 shares of the company's stock, valued at approximately $3,304,000. Centiva Capital LP owned 0.07% of Rumble at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RUM. Barclays PLC raised its holdings in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock valued at $72,000 after purchasing an additional 11,784 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Rumble in the 4th quarter worth approximately $183,000. Charles Schwab Investment Management Inc. increased its holdings in Rumble by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company's stock valued at $6,411,000 after buying an additional 14,476 shares during the last quarter. Jones Financial Companies Lllp increased its position in Rumble by 423.1% in the fourth quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company's stock worth $104,000 after buying an additional 6,473 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Rumble by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company's stock worth $174,000 after acquiring an additional 1,510 shares during the period. 26.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RUM has been the topic of several analyst reports. Maxim Group initiated coverage on shares of Rumble in a report on Wednesday, January 15th. They issued a "buy" rating and a $20.00 price target on the stock. Wedbush set a $8.00 price target on shares of Rumble and gave the company a "neutral" rating in a report on Tuesday, April 15th.

Rumble Price Performance

Shares of RUM opened at $7.78 on Tuesday. The business's 50 day simple moving average is $7.83 and its 200-day simple moving average is $8.95. Rumble Inc. has a 1 year low of $4.92 and a 1 year high of $17.40. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -12.35 and a beta of 0.69.

Rumble (NASDAQ:RUM - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported ($1.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($1.02). The business had revenue of $30.20 million during the quarter, compared to analysts' expectations of $29.74 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. Rumble's revenue for the quarter was up 48.0% on a year-over-year basis. On average, sell-side analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Rumble news, Director Ryan Milnes sold 24,978,210 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 $187,336,575.00. Following the completion of the sale, the director now directly owns 57,290 shares of the company's stock, valued at approximately $429,675. The trade was a 99.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 522,927 shares of the company's stock, valued at approximately $3,921,952.50. This trade represents a 40.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,104,017 shares of company stock valued at $308,280,128 over the last 90 days. 70.10% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.