Two Sigma Investments LP Makes New Investment in Rumble Inc. (NASDAQ:RUM)

Two Sigma Investments LP purchased a new stake in shares of Rumble Inc. (NASDAQ:RUM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 314,589 shares of the company's stock, valued at approximately $4,093,000. Two Sigma Investments LP owned approximately 0.08% of Rumble at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RUM. IFP Advisors Inc increased its holdings in shares of Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company's stock valued at $26,000 after acquiring an additional 830 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Rumble during the fourth quarter valued at $35,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company's stock valued at $38,000 after acquiring an additional 980 shares in the last quarter. Measured Risk Portfolios Inc. bought a new position in shares of Rumble during the fourth quarter valued at $65,000. Finally, Global Retirement Partners LLC bought a new position in shares of Rumble during the fourth quarter valued at $78,000. 26.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush set a $8.00 price objective on Rumble and gave the stock a "neutral" rating in a report on Tuesday, April 15th.

Rumble Price Performance

NASDAQ RUM traded down $0.24 during trading hours on Monday, hitting $8.77. The company's stock had a trading volume of 1,557,393 shares, compared to its average volume of 3,174,324. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40. The company's 50 day simple moving average is $8.29 and its two-hundred day simple moving average is $9.41. The company has a market cap of $3.81 billion, a P/E ratio of -13.92 and a beta of 0.69.

Rumble (NASDAQ:RUM - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($1.15) EPS 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 business had revenue of $30.20 million during the quarter, compared to the consensus estimate of $29.74 million. The company's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

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.