Geode Capital Management LLC Acquires 130,956 Shares of Rumble Inc. (NASDAQ:RUM)

Geode Capital Management LLC increased its holdings in Rumble Inc. (NASDAQ:RUM) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,035,718 shares of the company’s stock after buying an additional 130,956 shares during the quarter. Geode Capital Management LLC’s holdings in Rumble were worth $5,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RUM. Barclays PLC raised its stake in Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares during the last quarter. MML Investors Services LLC bought a new stake in shares of Rumble in the third quarter worth $185,000. Janus Henderson Group PLC purchased a new stake in Rumble during the third quarter valued at $184,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Rumble by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after acquiring an additional 5,348 shares during the period. Finally, FMR LLC boosted its position 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 last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Insider Activity

In other news, Director Robert Arsov sold 27,500 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.69, for a total value of $156,475.00. Following the completion of the sale, the director now directly owns 12,577,337 shares of the company’s stock, valued at $71,565,047.53. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 114,988 shares of company stock valued at $701,617 in the last ninety days. Corporate insiders own 72.90% of the company’s stock.

Rumble Trading Up 8.3 %

Shares of RUM stock opened at $13.43 on Friday. Rumble Inc. has a 12 month low of $3.33 and a 12 month high of $17.40. The stock has a market cap of $5.23 billion, a P/E ratio of -21.32 and a beta of 0.81. The company has a 50 day simple moving average of $8.18 and a two-hundred day simple moving average of $6.61.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter last year, the company earned ($0.14) earnings per share. As a group, equities analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush restated a “neutral” rating and set a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th.

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.