Rumble (NASDAQ:RUM) Major Shareholder Holdings S.A. De C.V. Tether Purchases 270,478 Shares of Stock

Rumble Inc. (NASDAQ:RUM) major shareholder Holdings S.A. De C.V. Tether acquired 270,478 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $5.46 per share, for a total transaction of $1,476,809.88. Following the purchase, the insider owned 104,397,003 shares in the company, valued at approximately $570,007,636.38. This trade represents a 0.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Holdings S.A. De C.V. Tether also recently made the following trade(s):

• On Thursday, November 20th, Holdings S.A. De C.V. Tether purchased 440,000 shares of Rumble stock. The stock was acquired at an average price of $5.38 per share, for a total transaction of $2,367,200.00.
• On Wednesday, November 19th, Holdings S.A. De C.V. Tether acquired 353,192 shares of Rumble stock. The shares were purchased at an average price of $5.45 per share, for a total transaction of $1,924,896.40.

Rumble Price Performance

NASDAQ RUM traded up $0.37 on Friday, reaching $5.69. The company had a trading volume of 4,714,378 shares, compared to its average volume of 3,093,749. Rumble Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $17.40. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -4.25 and a beta of 0.69. The business has a 50 day moving average of $6.98 and a two-hundred day moving average of $8.08.

Rumble (NASDAQ:RUM) last issued its earnings results on Monday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $24.76 million for the quarter, compared to the consensus estimate of $26.86 million. Rumble had a negative return on equity of 78.52% and a negative net margin of 275.47%.Rumble’s revenue was down 1.2% compared to the same quarter last year. As a group, research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on RUM shares. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rumble in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rumble has a consensus rating of “Hold” and an average target price of $14.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RUM. Meeder Asset Management Inc. purchased a new position in Rumble during the third quarter valued at $28,000. CWM LLC boosted its holdings in Rumble by 104.3% in the first quarter. CWM LLC now owns 4,395 shares of the company’s stock worth $31,000 after acquiring an additional 2,244 shares in the last quarter. Mather Group LLC. purchased a new stake in Rumble during the 3rd quarter valued at about $43,000. AlphaQuest LLC grew its holdings in Rumble by 711.8% during the first quarter. AlphaQuest LLC now owns 7,095 shares of the company’s stock worth $50,000 after acquiring an additional 6,221 shares during the period. Finally, MAI Capital Management increased its holdings in shares of Rumble by 110.4% during the 1st quarter. MAI Capital Management now owns 9,529 shares of the company’s stock valued at $67,000 after purchasing an additional 5,000 shares in the last quarter. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.