Teacher Retirement System of Texas Buys Shares of 11,312 Rumble Inc. $RUM

Teacher Retirement System of Texas purchased a new stake in shares of Rumble Inc. (NASDAQ:RUM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,312 shares of the company’s stock, valued at approximately $102,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC raised its holdings in Rumble by 241.4% in the 2nd quarter. AlphaQuest LLC now owns 24,225 shares of the company’s stock valued at $218,000 after buying an additional 17,130 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Rumble in the 2nd quarter valued at approximately $279,000. CWM LLC raised its stake in shares of Rumble by 41.9% during the second quarter. CWM LLC now owns 6,238 shares of the company’s stock valued at $56,000 after acquiring an additional 1,843 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Rumble by 46.2% during the second quarter. KLP Kapitalforvaltning AS now owns 15,500 shares of the company’s stock valued at $139,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Trueblood Wealth Management LLC acquired a new position in shares of Rumble during the second quarter worth $170,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Rumble from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Rumble in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Rumble Trading Down 1.0%

Shares of RUM opened at $6.08 on Thursday. The firm’s fifty day simple moving average is $7.23 and its two-hundred day simple moving average is $8.20. Rumble Inc. has a 12 month low of $5.25 and a 12 month high of $17.40. The stock has a market capitalization of $2.64 billion, a P/E ratio of -4.54 and a beta of 0.69.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Rumble had a negative net margin of 275.47% and a negative return on equity of 78.52%. The business had revenue of $24.76 million during the quarter, compared to analyst estimates of $26.86 million. Rumble’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts predict that Rumble Inc. will post -0.62 EPS for the current fiscal year.

About Rumble

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.