Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Rumble Inc. (NASDAQ:RUM)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 20.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 30,962 shares of the company’s stock after acquiring an additional 5,348 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rumble were worth $166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Total Clarity Wealth Management Inc. purchased a new stake in Rumble in the 2nd quarter worth approximately $161,000. Charles Schwab Investment Management Inc. grew its position in Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after buying an additional 24,879 shares during the period. FMR LLC increased its holdings in Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after buying an additional 20,343 shares in the last quarter. Cypress Point Wealth Management LLC acquired a new position in shares of Rumble in the third quarter worth about $98,000. Finally, Arizona State Retirement System purchased a new stake in shares of Rumble during the 2nd quarter worth about $91,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Arsov sold 29,988 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total transaction of $206,917.20. Following the completion of the sale, the director now directly owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 169,988 shares of company stock worth $986,517 in the last 90 days. Insiders own 72.90% of the company’s stock.

Rumble Price Performance

Shares of RUM stock opened at $8.13 on Tuesday. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $9.20. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -12.90 and a beta of 0.81. The stock has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $5.98.

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

Analyst Ratings Changes

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

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.