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Millennium Management LLC Acquires 580,105 Shares of Rumble Inc. (NASDAQ:RUM)

Rumble logo with Computer and Technology background

Millennium Management LLC grew its holdings in Rumble Inc. (NASDAQ:RUM - Free Report) by 287.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 781,747 shares of the company's stock after buying an additional 580,105 shares during the period. Millennium Management LLC owned approximately 0.20% of Rumble worth $10,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. D. E. Shaw & Co. Inc. grew its stake in shares of 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. Centiva Capital LP bought a new stake in shares of Rumble in the 4th quarter worth about $3,304,000. Balyasny Asset Management L.P. bought a new stake in shares of Rumble in the 4th quarter worth about $3,966,000. Ameriprise Financial Inc. lifted its holdings in shares of Rumble by 2.8% in the 4th quarter. Ameriprise Financial Inc. now owns 638,316 shares of the company's stock worth $8,304,000 after acquiring an additional 17,100 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Rumble by 17.9% in the 4th quarter. Northern Trust Corp now owns 213,582 shares of the company's stock worth $2,779,000 after acquiring an additional 32,363 shares during the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, 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.

View Our Latest Stock Report on RUM

Rumble Price Performance

Shares of Rumble stock traded up $0.36 during trading on Tuesday, hitting $9.52. The stock had a trading volume of 2,065,355 shares, compared to its average volume of 3,171,612. The firm's fifty day simple moving average is $8.16 and its 200-day simple moving average is $9.31. The stock has a market cap of $4.13 billion, a PE ratio of -15.11 and a beta of 0.69. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last released its earnings results 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). The firm had revenue of $30.20 million during the quarter, compared to the consensus estimate of $29.74 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The business's revenue was up 48.0% on a year-over-year basis. Analysts expect that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Rumble Profile

(Free Report)

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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Institutional Ownership by Quarter for Rumble (NASDAQ:RUM)

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