UBS Group AG Has $5.27 Million Stock Position in Rumble Inc. $RUM

UBS Group AG lowered its holdings in shares of Rumble Inc. (NASDAQ:RUM) by 21.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 833,185 shares of the company’s stock after selling 230,887 shares during the period. UBS Group AG’s holdings in Rumble were worth $5,266,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RUM. Neo Ivy Capital Management acquired a new position in shares of Rumble during the 3rd quarter worth $1,563,000. Squarepoint Ops LLC acquired a new position in Rumble in the 3rd quarter worth about $1,346,000. First Trust Advisors LP increased its holdings in Rumble by 694.8% in the 2nd quarter. First Trust Advisors LP now owns 153,386 shares of the company’s stock worth $1,377,000 after purchasing an additional 134,087 shares in the last quarter. Vanguard Group Inc. increased its holdings in Rumble by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock worth $64,686,000 after purchasing an additional 122,788 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Rumble by 136.7% in the 1st quarter. Royal Bank of Canada now owns 210,665 shares of the company’s stock worth $1,490,000 after purchasing an additional 121,650 shares in the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised Rumble from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised Rumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Rumble Stock Up 9.4%

Shares of RUM opened at $8.06 on Friday. Rumble Inc. has a 12-month low of $4.62 and a 12-month high of $10.99. The business has a 50-day simple moving average of $6.18 and a two-hundred day simple moving average of $6.20. The stock has a market cap of $3.51 billion, a PE ratio of -18.74 and a beta of 1.02.

Rumble (NASDAQ:RUM) last issued its earnings results on Thursday, March 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $27.07 million during the quarter, compared to analyst estimates of $27.09 million. Rumble had a negative return on equity of 42.47% and a negative net margin of 106.91%.Rumble’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.15) EPS. On average, equities research analysts expect that Rumble Inc. will post -0.22 EPS for the current year.

Rumble Company Profile

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.