State Street Corp Cuts Position in Rumble Inc. $RUM

Key Points

• State Street reduced its Rumble stake by 13.3% in the second quarter, selling 442,627 shares and retaining 2.89 million shares worth approximately $18.3 million. Institutional and hedge-fund investors collectively own 26.15% of Rumble.
• Rumble’s latest quarter showed 61% year-over-year revenue growth to $40.37 million, exceeding estimates, but the company posted an adjusted loss of $0.28 per share versus the expected $0.10 loss. Analysts maintain a consensus “Sell” rating.
• A reported deal to stream WWE’s “Main Event” exclusively on Rumble in the U.S. could expand the platform’s content lineup, viewing time and brand visibility, though the agreement’s financial terms remain undisclosed.

State Street Corp lessened its position in Rumble Inc. (NASDAQ:RUM - Free Report) by 13.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,893,129 shares of the company's stock after selling 442,627 shares during the quarter. State Street Corp owned 0.58% of Rumble worth $18,342,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Rumble in the 2nd quarter worth $69,000. Corient Private Wealth LP bought a new stake in Rumble during the 2nd quarter valued at $164,000. Handelsbanken Fonder AB increased its holdings in shares of Rumble by 38.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company's stock valued at $250,000 after acquiring an additional 10,900 shares during the period. Cooper Creek Partners Management LLC raised its position in shares of Rumble by 54.1% in the 1st quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company's stock worth $26,737,000 after acquiring an additional 1,840,893 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Rumble during the 1st quarter worth $62,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Rumble

Here are the key news stories impacting Rumble this week:

• Positive Sentiment: WWE programming deal expands Rumble’s content lineup. WWE’s “Main Event” will reportedly move from YouTube to Rumble in October and stream exclusively on the platform in the United States. The program is also expected to shift to Wednesdays, putting it in competition with AEW’s “Dynamite.” The agreement could increase viewing time, attract wrestling fans and strengthen Rumble’s position as an alternative video platform. Hollywood Reporter article
• Positive Sentiment: The WWE arrangement may improve Rumble’s brand visibility and provide a recurring source of professional wrestling content. However, the reports do not disclose the deal’s cost, revenue-sharing structure or expected financial contribution, limiting its immediate earnings significance. Wrestling Observer article
• Neutral Sentiment: Recent short-interest data listed zero shares sold short and a zero-day short-interest ratio. That suggests short sellers are not currently a meaningful trading catalyst, although the report conflicts with the accompanying claim of a “significant increase” and should be treated cautiously.
• Neutral Sentiment: A separate article discusses an injured WWE star targeting a return at the Royal Rumble. It is primarily WWE storyline news and does not appear to represent a new commercial agreement or direct financial update for Rumble Inc. Yahoo Sports article

Rumble Stock Performance

Shares of NASDAQ:RUM opened at $8.36 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.12. The business's 50 day moving average price is $7.69 and its 200-day moving average price is $6.99. The firm has a market capitalization of $4.14 billion, a PE ratio of -14.17 and a beta of 1.21. Rumble Inc. has a 1 year low of $4.62 and a 1 year high of $10.60.

Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The firm had revenue of $40.37 million during the quarter, compared to analyst estimates of $31.23 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm's revenue for the quarter was up 61.0% compared to the same quarter last year. As a group, equities research analysts expect that Rumble Inc. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on RUM shares. Wall Street Zen downgraded shares of Rumble from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rumble in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Rumble has a consensus rating of "Sell".

Rumble Profile

Rumble Inc operates a video-sharing and cloud services platform. Its flagship service enables users to upload, watch, and share video content, while providing creators with tools for audience engagement and monetization. The platform serves a broad range of users and content creators, with an emphasis on supporting independent publishers and offering an alternative to larger video-hosting services.

The company also provides digital infrastructure through Rumble Cloud, which offers cloud hosting and related services to businesses and organizations.

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