Balyasny Asset Management L.P. Takes $3.97 Million Position in Rumble Inc. (NASDAQ:RUM)

Balyasny Asset Management L.P. bought a new position in shares of Rumble Inc. (NASDAQ:RUM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 304,871 shares of the company's stock, valued at approximately $3,966,000. Balyasny Asset Management L.P. owned about 0.08% of Rumble at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in shares of Rumble by 2.8% during the fourth quarter. Ameriprise Financial Inc. now owns 638,316 shares of the company's stock worth $8,304,000 after purchasing an additional 17,100 shares during the last quarter. Northern Trust Corp lifted its position in shares of Rumble by 17.9% during the fourth quarter. Northern Trust Corp now owns 213,582 shares of the company's stock worth $2,779,000 after purchasing an additional 32,363 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Rumble during the fourth quarter worth $35,000. Price T Rowe Associates Inc. MD lifted its position in shares of Rumble by 29.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,800 shares of the company's stock worth $232,000 after purchasing an additional 4,100 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Rumble by 374.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,491 shares of the company's stock valued at $123,000 after acquiring an additional 7,491 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors.

Rumble Price Performance

Rumble stock traded down $0.21 during trading hours on Wednesday, reaching $10.35. The stock had a trading volume of 2,306,073 shares, compared to its average volume of 3,145,374. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -16.43 and a beta of 0.69. The business's 50 day moving average price is $7.84 and its 200-day moving average price is $9.06. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on RUM. Maxim Group began coverage on Rumble in a report on Wednesday, January 15th. They issued a "buy" rating and a $20.00 price objective for the company. Wedbush set a $8.00 target price on shares of Rumble and gave the stock a "neutral" rating in a report on Tuesday, April 15th.

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.