ProShare Advisors LLC Invests $145,000 in Rumble Inc. $RUM

ProShare Advisors LLC acquired a new stake in Rumble Inc. (NASDAQ:RUM) in the 2nd quarter, Holdings Channel reports. The fund acquired 16,157 shares of the company’s stock, valued at approximately $145,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Rumble by 104.3% in the first quarter. CWM LLC now owns 4,395 shares of the company’s stock valued at $31,000 after buying an additional 2,244 shares during the last quarter. AlphaQuest LLC raised its position in Rumble by 711.8% in the 1st quarter. AlphaQuest LLC now owns 7,095 shares of the company’s stock valued at $50,000 after purchasing an additional 6,221 shares during the last quarter. MAI Capital Management boosted its stake in Rumble by 110.4% during the 1st quarter. MAI Capital Management now owns 9,529 shares of the company’s stock worth $67,000 after purchasing an additional 5,000 shares during the period. Entropy Technologies LP purchased a new position in Rumble during the 1st quarter worth $90,000. Finally, Chicago Capital LLC purchased a new position in Rumble during the 2nd quarter worth $90,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Rumble Price Performance

RUM opened at $6.51 on Tuesday. Rumble Inc. has a 12 month low of $5.11 and a 12 month high of $17.40. The stock has a market capitalization of $2.83 billion, a P/E ratio of -4.86 and a beta of 0.69. The business has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $8.08.

Rumble (NASDAQ:RUM) last released its quarterly earnings data 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). Rumble had a negative return on equity of 78.52% and a negative net margin of 275.47%.The business had revenue of $24.76 million during the quarter, compared to analysts’ expectations of $26.86 million. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Insider Buying and Selling at Rumble

In related news, major shareholder Holdings S.A. De C.V. Tether purchased 440,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of $5.38 per share, for a total transaction of $2,367,200.00. Following the acquisition, the insider directly owned 104,126,525 shares of the company’s stock, valued at $560,200,704.50. This trade represents a 0.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 1,063,670 shares of company stock worth $5,768,906. Corporate insiders own 70.10% of the company’s stock.

Analyst Ratings Changes

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

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.