XTX Topco Ltd Invests $236,000 in Rumble Inc. (NASDAQ:RUM)

XTX Topco Ltd acquired a new stake in shares of Rumble Inc. (NASDAQ:RUM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,174 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after purchasing an additional 830 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Rumble by 50.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after buying an additional 980 shares during the last quarter. Virtu Financial LLC purchased a new stake in Rumble in the 3rd quarter valued at about $70,000. Barclays PLC lifted its holdings in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of Rumble in the fourth quarter worth approximately $78,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RUM. Maxim Group assumed coverage on Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective for the company. Wedbush set a $8.00 price target on Rumble and gave the stock a “neutral” rating in a research note on Tuesday, April 15th.

Insiders Place Their Bets

In other Rumble news, insider Claudio Ramolo sold 4,812,646 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $36,094,845.00. Following the transaction, the insider now directly owns 14,283 shares of the company’s stock, valued at $107,122.50. This represents a 99.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ryan Milnes sold 24,978,210 shares of Rumble stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the completion of the sale, the director now owns 57,290 shares of the company’s stock, valued at approximately $429,675. This trade represents a 99.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,104,017 shares of company stock worth $308,280,128 in the last 90 days. 70.10% of the stock is owned by company insiders.

Rumble Trading Down 1.9 %

NASDAQ:RUM opened at $8.08 on Friday. The firm’s fifty day simple moving average is $8.12 and its 200 day simple moving average is $8.83. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -12.83 and a beta of 0.70.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $30.20 million for the quarter, compared to analyst estimates of $29.74 million. The business’s revenue was up 48.0% compared to the same quarter last year. On average, analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

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.