Rumble Inc. (NASDAQ:RUM) Position Increased by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Rumble Inc. (NASDAQ:RUM - Free Report) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,972,575 shares of the company's stock after buying an additional 229,294 shares during the quarter. Vanguard Group Inc. owned approximately 2.05% of Rumble worth $103,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company's stock worth $2,564,000 after buying an additional 24,879 shares during the last quarter. FMR LLC boosted its holdings in Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company's stock worth $120,000 after purchasing an additional 20,343 shares during the period. Janus Henderson Group PLC bought a new stake in Rumble during the third quarter valued at $184,000. MML Investors Services LLC acquired a new stake in shares of Rumble during the third quarter worth $185,000. Finally, Barclays PLC raised its holdings in shares of Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after purchasing an additional 11,784 shares during the period. Institutional investors own 26.15% of the company's stock.

Insider Buying and Selling at Rumble

In related news, insider Claudio Ramolo sold 4,812,646 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $36,094,845.00. Following the completion of the transaction, the insider now owns 14,283 shares in the company, valued at $107,122.50. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $51,213,150.00. Following the sale, the chief financial officer now owns 64,210 shares in the company, valued at approximately $481,575. The trade was a 99.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,104,017 shares of company stock valued at $308,280,128. 70.10% of the stock is owned by insiders.

Rumble Stock Performance

Shares of NASDAQ:RUM traded down $0.08 on Tuesday, hitting $7.34. The company's stock had a trading volume of 362,073 shares, compared to its average volume of 3,038,000. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -11.67 and a beta of 0.70. The stock's 50-day moving average is $8.89 and its two-hundred day moving average is $8.72. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $30.20 million for the quarter, compared to the consensus estimate of $29.74 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm's quarterly revenue was up 48.0% on a year-over-year basis. Equities analysts expect that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RUM has been the subject of a number of research reports. Wedbush decreased their target price on Rumble from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, March 26th. Maxim Group started coverage on shares of Rumble in a research note on Wednesday, January 15th. They set a "buy" rating and a $20.00 target price for the company.

Rumble Company Profile

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.