Vanguard Group Inc. Reduces Position in Rumble Inc. (NASDAQ:RUM)

Vanguard Group Inc. decreased its position in Rumble Inc. (NASDAQ:RUM - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,038,176 shares of the company's stock after selling 207,800 shares during the period. Vanguard Group Inc. owned 1.56% of Rumble worth $30,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RUM. Bank of New York Mellon Corp increased its stake in shares of Rumble by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company's stock worth $181,000 after purchasing an additional 2,581 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Rumble by 69.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company's stock worth $557,000 after purchasing an additional 44,863 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Rumble by 39.0% during the 3rd quarter. Private Advisor Group LLC now owns 44,877 shares of the company's stock worth $229,000 after purchasing an additional 12,596 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Rumble by 26.8% during the 3rd quarter. Sigma Planning Corp now owns 24,341 shares of the company's stock worth $124,000 after purchasing an additional 5,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rumble by 5.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,378 shares of the company's stock worth $247,000 after purchasing an additional 2,413 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company's stock.

Insider Buying and Selling

In related news, Director David O. Sacks sold 133,896 shares of Rumble stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the transaction, the director now owns 3,390 shares in the company, valued at approximately $21,865.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Rumble news, Director Robert Arsov sold 40,000 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $7.21, for a total value of $288,400.00. Following the transaction, the director now owns 15,423,914 shares in the company, valued at $111,206,419.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David O. Sacks sold 133,896 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.45, for a total transaction of $863,629.20. Following the completion of the transaction, the director now owns 3,390 shares in the company, valued at approximately $21,865.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,683,896 shares of company stock worth $11,821,229 in the last 90 days. 72.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Oppenheimer reaffirmed a "market perform" rating on shares of Rumble in a report on Thursday, March 28th.

Rumble Price Performance

NASDAQ:RUM traded down $0.36 during trading hours on Friday, hitting $6.36. The stock had a trading volume of 1,316,591 shares, compared to its average volume of 6,229,115. The company has a 50 day simple moving average of $7.28 and a two-hundred day simple moving average of $5.70. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -11.16 and a beta of 0.82. Rumble Inc. has a one year low of $3.33 and a one year high of $11.25.

Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. The firm had revenue of $20.39 million for the quarter, compared to analysts' expectations of $28.13 million. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. Equities research analysts anticipate that Rumble Inc. will post -0.64 earnings per share for the current year.

Rumble Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.