Rumble Inc. (NASDAQ:RUM) Shares Bought by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. raised its stake in shares of Rumble Inc. (NASDAQ:RUM - Free Report) by 9,234.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,351,803 shares of the company's stock after purchasing an additional 1,337,321 shares during the period. D. E. Shaw & Co. Inc. owned 0.35% of Rumble worth $17,587,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Centiva Capital LP purchased a new stake in shares of Rumble during the fourth quarter worth approximately $3,304,000. Balyasny Asset Management L.P. acquired a new stake in Rumble during the 4th quarter worth $3,966,000. Ameriprise Financial Inc. boosted its stake in Rumble by 2.8% during the 4th quarter. Ameriprise Financial Inc. now owns 638,316 shares of the company's stock worth $8,304,000 after purchasing an additional 17,100 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Rumble by 17.9% during the fourth quarter. Northern Trust Corp now owns 213,582 shares of the company's stock worth $2,779,000 after buying an additional 32,363 shares in the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Rumble during the fourth quarter worth $35,000. Institutional investors and hedge funds own 26.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wedbush set a $8.00 price target on shares of Rumble and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Maxim Group started coverage on shares of Rumble in a research note on Wednesday, January 15th. They issued a "buy" rating and a $20.00 target price on the stock.

Rumble Stock Up 7.1%

Shares of NASDAQ:RUM opened at $9.96 on Tuesday. Rumble Inc. has a 52-week low of $4.92 and a 52-week high of $17.40. The stock has a market cap of $4.33 billion, a P/E ratio of -15.81 and a beta of 0.69. The business has a fifty day moving average of $7.80 and a two-hundred day moving average of $9.05.

Rumble (NASDAQ:RUM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($1.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $30.20 million during the quarter, compared to analysts' expectations of $29.74 million. Rumble's quarterly revenue was up 48.0% compared to the same quarter last year. On average, equities analysts anticipate 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.

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