Wall Street Zen downgraded shares of Rumble (NASDAQ:RUM – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.
View Our Latest Stock Report on Rumble
Rumble Trading Down 1.1%
Rumble (NASDAQ:RUM – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Rumble had a negative return on equity of 22.77% and a negative net margin of 134.60%.The company had revenue of $40.37 million for the quarter, compared to analyst estimates of $31.23 million. During the same period in the prior year, the business earned ($0.12) earnings per share. Rumble’s revenue for the quarter was up 61.0% compared to the same quarter last year. Equities analysts anticipate that Rumble will post -0.22 EPS for the current year.
Hedge Funds Weigh In On Rumble
Large investors have recently modified their holdings of the business. Cooper Creek Partners Management LLC increased its holdings in Rumble by 54.1% in the first quarter. Cooper Creek Partners Management LLC now owns 5,242,497 shares of the company’s stock valued at $26,737,000 after buying an additional 1,840,893 shares in the last quarter. State of Wyoming purchased a new stake in shares of Rumble during the 1st quarter worth approximately $62,000. Bank of New York Mellon Corp boosted its stake in shares of Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after acquiring an additional 1,475 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Rumble in the 1st quarter worth approximately $81,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Rumble by 2,905.9% in the 4th quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $65,000 after acquiring an additional 9,909 shares during the period. 26.15% of the stock is owned by hedge funds and other institutional investors.
About Rumble
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.
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