Vanguard Group Inc. Raises Stock Position in Rumble Inc. $RUM

Key Points

• Vanguard Group Inc. has increased its stake in Rumble Inc. by 20.2%, now owning approximately 9.6 million shares valued at about $67.8 million.
• Wall Street analyst ratings for Rumble have shifted, with one firm lowering its rating from "hold" to "sell," while the stock maintains a consensus rating of "Moderate Buy" with a price target of $14.00.
• Rumble reported a quarterly revenue of $25.09 million, missing expectations and reflecting a negative return on equity of 97.99%, with forecasted EPS of -0.62 for the current fiscal year.

Vanguard Group Inc. boosted its stake in Rumble Inc. (NASDAQ:RUM - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,585,466 shares of the company's stock after purchasing an additional 1,612,891 shares during the period. Vanguard Group Inc. owned about 2.21% of Rumble worth $67,769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RUM. North Star Investment Management Corp. raised its stake in shares of Rumble by 60.0% during the first quarter. North Star Investment Management Corp. now owns 4,000 shares of the company's stock valued at $28,000 after acquiring an additional 1,500 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Rumble by 28,571.4% during the first quarter. Golden State Wealth Management LLC now owns 4,014 shares of the company's stock valued at $28,000 after acquiring an additional 4,000 shares during the last quarter. CWM LLC raised its stake in shares of Rumble by 104.3% during the first quarter. CWM LLC now owns 4,395 shares of the company's stock valued at $31,000 after acquiring an additional 2,244 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Rumble by 8,900.0% during the first quarter. Raleigh Capital Management Inc. now owns 4,500 shares of the company's stock valued at $32,000 after acquiring an additional 4,450 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Rumble during the fourth quarter valued at $35,000. Institutional investors own 26.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of 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 stock. Based on data from MarketBeat, Rumble presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Rumble Stock Down 0.3%

NASDAQ:RUM traded down $0.03 during trading hours on Thursday, reaching $7.53. The company had a trading volume of 873,605 shares, compared to its average volume of 2,919,945. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -5.27 and a beta of 0.72. The business's 50-day simple moving average is $8.66 and its two-hundred day simple moving average is $8.69. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last released 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 business had revenue of $25.09 million during the quarter, compared to the consensus estimate of $26.78 million. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

About Rumble

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.