336,452 Shares in Rumble Inc. $RUM Bought 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 position in shares of Rumble Inc. (NASDAQ:RUM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RUM. Raymond James Financial Inc. acquired a new position in Rumble during the 4th quarter worth approximately $468,000. Price T Rowe Associates Inc. MD increased its holdings in Rumble by 29.9% during the 4th 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. Northern Trust Corp increased its holdings in Rumble by 17.9% during the 4th 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. Ameriprise Financial Inc. increased its holdings in Rumble by 2.8% during the 4th 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. Finally, Balyasny Asset Management L.P. purchased a new stake in Rumble during the 4th quarter worth approximately $3,966,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Rumble Stock Performance

Shares of NASDAQ RUM traded down $0.02 during trading on Friday, reaching $7.31. The stock had a trading volume of 1,571,929 shares, compared to its average volume of 1,837,987. Rumble Inc. has a one year low of $5.03 and a one year high of $17.40. The stock has a market cap of $3.18 billion, a PE ratio of -5.11 and a beta of 0.70. The firm's 50 day moving average price is $8.25 and its two-hundred day moving average price is $8.38.

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

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.