Rumble Inc. $RUM is Cantor Fitzgerald L. P.'s 10th Largest Position

Key Points

• Cantor Fitzgerald reduced its position by 21% in Rumble during Q3, holding 7,374,437 shares after selling 1,959,380; Rumble is its 10th-largest holding (≈0.5% of the firm's portfolio) and Cantor owned about 1.70% of Rumble valued at $53.39M.
• Insiders and institutions are active: corporate insiders own 45.10% of the company and bought 777,012 shares over the past 90 days (Tether added 44,355), while other institutions adjusted stakes (RBC +136.7%, Geode +57.3%).
• Mixed financials and analyst view: Rumble missed Q earnings (EPS -$0.13 vs. -$0.11), revenue fell 10.3% YoY, and analysts have an average rating of "Reduce" with a $8 target as the stock trades near $5.33 (market cap ~$2.32B).

Cantor Fitzgerald L. P. reduced its position in Rumble Inc. (NASDAQ:RUM - Free Report) by 21.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,374,437 shares of the company's stock after selling 1,959,380 shares during the period. Rumble accounts for approximately 0.5% of Cantor Fitzgerald L. P.'s portfolio, making the stock its 10th largest holding. Cantor Fitzgerald L. P. owned approximately 1.70% of Rumble worth $53,391,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RUM. Royal Bank of Canada increased its stake in shares of Rumble by 136.7% in the first quarter. Royal Bank of Canada now owns 210,665 shares of the company's stock worth $1,490,000 after purchasing an additional 121,650 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Rumble during the 1st quarter valued at approximately $163,000. ProShare Advisors LLC purchased a new stake in shares of Rumble during the 2nd quarter valued at approximately $145,000. Geode Capital Management LLC boosted its holdings in Rumble by 57.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company's stock worth $21,313,000 after buying an additional 864,677 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Rumble in the 2nd quarter worth approximately $162,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Rumble in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $8.00.

Rumble Stock Down 2.2%

RUM stock opened at $5.33 on Friday. The firm has a market capitalization of $2.32 billion, a PE ratio of -16.66 and a beta of 0.70. Rumble Inc. has a twelve month low of $4.67 and a twelve month high of $10.99. The stock has a 50-day simple moving average of $5.89 and a two-hundred day simple moving average of $6.60.

Rumble (NASDAQ:RUM - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Rumble had a negative net margin of 81.32% and a negative return on equity of 39.76%. The company had revenue of $27.07 million for the quarter, compared to the consensus estimate of $27.09 million. During the same quarter in the prior year, the company earned ($1.15) earnings per share. The company's quarterly revenue was down 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Tether Global Investments Fund bought 44,355 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average price of $5.48 per share, with a total value of $243,065.40. Following the acquisition, the insider owned 105,174,015 shares of the company's stock, valued at approximately $576,353,602.20. The trade was a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 777,012 shares of company stock worth $4,222,236. Corporate insiders own 45.10% of the company's stock.

Rumble Profile

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company's primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.

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