16,320 Shares in Rumble Inc. (NASDAQ:RUM) Bought by Arizona State Retirement System

Arizona State Retirement System acquired a new stake in Rumble Inc. (NASDAQ:RUM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 16,320 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Rumble in the 4th quarter valued at approximately $32,000. Bank of New York Mellon Corp acquired a new stake in Rumble in the second quarter valued at $66,000. SG Americas Securities LLC purchased a new stake in shares of Rumble during the 2nd quarter worth $67,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Rumble during the 1st quarter worth $81,000. Finally, LexAurum Advisors LLC purchased a new position in shares of Rumble in the 1st quarter valued at about $81,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Rumble Price Performance

NASDAQ RUM opened at $5.27 on Thursday. The business has a 50 day moving average price of $6.02 and a 200 day moving average price of $6.41. The company has a market capitalization of $2.04 billion, a P/E ratio of -8.23 and a beta of 0.75. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $9.20.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The firm had revenue of $22.47 million for the quarter, compared to analyst estimates of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. On average, research analysts expect that Rumble Inc. will post -0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Tuesday, August 13th.

Insider Activity

In other news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $5.76, for a total transaction of $158,400.00. Following the completion of the sale, the director now directly owns 14,994,837 shares in the company, valued at $86,370,261.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 195,000 shares of company stock worth $1,118,325 over the last ninety days. 72.90% of the stock is currently owned by insiders.

Rumble 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.