Raymond James Financial Inc. Acquires Shares of 35,965 Rumble Inc. (NASDAQ:RUM)

Raymond James Financial Inc. purchased a new stake in Rumble Inc. (NASDAQ:RUM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,965 shares of the company's stock, valued at approximately $468,000.

A number of other hedge funds have also recently bought and sold shares of RUM. Vanguard Group Inc. lifted its stake in shares of Rumble by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company's stock valued at $103,723,000 after buying an additional 229,294 shares during the period. Geode Capital Management LLC raised its holdings in Rumble by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company's stock valued at $13,550,000 after acquiring an additional 5,326 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rumble by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company's stock worth $6,411,000 after acquiring an additional 14,476 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Rumble in the 4th quarter worth approximately $2,540,000. Finally, LPL Financial LLC grew its holdings in shares of Rumble by 18.9% during the 4th quarter. LPL Financial LLC now owns 109,403 shares of the company's stock worth $1,423,000 after purchasing an additional 17,391 shares in the last quarter. 26.15% of the stock is owned by institutional investors.

Rumble Price Performance

Shares of RUM traded up $0.60 during mid-day trading on Tuesday, reaching $10.56. The company had a trading volume of 4,646,959 shares, compared to its average volume of 3,142,454. The company has a market capitalization of $4.59 billion, a P/E ratio of -16.76 and a beta of 0.69. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The company's 50-day moving average is $7.80 and its 200-day moving average is $9.05.

Rumble (NASDAQ:RUM - Get Free Report) last released its quarterly earnings data 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). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $29.74 million. The company's quarterly revenue was up 48.0% compared to the same quarter last year. As a group, equities analysts expect that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wedbush set a $8.00 target price on Rumble and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Maxim Group assumed coverage on shares of Rumble in a research note on Wednesday, January 15th. They issued a "buy" rating and a $20.00 price objective for the company.

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.