Charles Schwab Investment Management Inc. Buys 24,879 Shares of Rumble Inc. (NASDAQ:RUM)

Charles Schwab Investment Management Inc. grew its stake in shares of Rumble Inc. (NASDAQ:RUM) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 478,317 shares of the company’s stock after acquiring an additional 24,879 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rumble were worth $2,564,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Redwood Wealth Management Group LLC purchased a new position in Rumble in the second quarter worth $30,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after buying an additional 8,824 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Rumble during the second quarter valued at $66,000. SG Americas Securities LLC purchased a new stake in shares of Rumble during the second quarter valued at $67,000. Finally, Solano Wealth Management Inc. purchased a new stake in shares of Rumble during the second quarter valued at $83,000. Institutional investors own 26.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rumble Stock Performance

NASDAQ:RUM opened at $8.30 on Monday. The firm’s fifty day moving average is $6.37 and its two-hundred day moving average is $6.02. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -13.17 and a beta of 0.81. Rumble Inc. has a one year low of $3.33 and a one year high of $9.20.

Rumble (NASDAQ:RUM) last issued 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). The firm had revenue of $25.06 million during the quarter, compared to analyst estimates 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 posted ($0.14) EPS. As a group, equities research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 29,988 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the sale, the director now owns 12,487,349 shares in the company, valued at approximately $86,162,708.10. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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.