336,452 Shares in Rumble Inc. $RUM Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC acquired 336,452 shares of Rumble Inc. valued at approximately $2.38 million, increasing its stake in the company to 0.08%.
• Rumble's stock is currently trading at $7.11, with a market cap of $3.09 billion and a negative P/E ratio of -4.97, reflecting ongoing financial struggles.
• Rumble's latest earnings report showed a loss of ($0.14) per share, missing analysts' expectations, with revenue of $25.09 million, below the anticipated $26.78 million.

Cubist Systematic Strategies LLC purchased a new stake in shares of Rumble Inc. (NASDAQ:RUM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 336,452 shares of the company's stock, valued at approximately $2,379,000. Cubist Systematic Strategies LLC owned approximately 0.08% of Rumble at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RUM. Vanguard Group Inc. raised its position in shares of Rumble by 20.2% during the 1st quarter. Vanguard Group Inc. now owns 9,585,466 shares of the company's stock valued at $67,769,000 after purchasing an additional 1,612,891 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Rumble by 9,234.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company's stock worth $17,587,000 after buying an additional 1,337,321 shares in the last quarter. Millennium Management LLC increased its stake in Rumble by 287.7% in the 4th quarter. Millennium Management LLC now owns 781,747 shares of the company's stock worth $10,171,000 after buying an additional 580,105 shares in the last quarter. Two Sigma Investments LP bought a new stake in Rumble during the fourth quarter valued at about $4,093,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Rumble in the fourth quarter valued at about $3,966,000. 26.15% of the stock is currently owned by institutional investors.

Rumble Stock Down 0.3%

Shares of RUM stock opened at $7.11 on Friday. The company's fifty day simple moving average is $8.45 and its two-hundred day simple moving average is $8.47. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40. The stock has a market cap of $3.09 billion, a P/E ratio of -4.97 and a beta of 0.70.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings data on Sunday, August 10th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). Rumble had a negative net margin of 289.37% and a negative return on equity of 97.99%. The firm had revenue of $25.09 million for the quarter, compared to analysts' expectations of $26.78 million. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Rumble from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

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.

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