Rumble (NASDAQ:RUM) Issues Earnings Results

Rumble (NASDAQ:RUM) announced its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08, Briefing.com reports. The business had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $28.13 million. Rumble had a negative net margin of 109.39% and a negative return on equity of 30.48%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS.

Rumble Stock Down 1.3 %

Rumble stock opened at $8.50 on Thursday. Rumble has a 52 week low of $3.33 and a 52 week high of $11.25. The firm’s 50-day simple moving average is $6.88 and its 200 day simple moving average is $5.61. The firm has a market capitalization of $3.28 billion, a PE ratio of -19.77 and a beta of 0.77.

Wall Street Analyst Weigh In

Separately, Oppenheimer reaffirmed a “market perform” rating on shares of Rumble in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Rumble by 12.7% in the 2nd quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock worth $15,507,000 after acquiring an additional 196,564 shares during the period. State Street Corp boosted its stake in shares of Rumble by 236.7% during the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock valued at $8,440,000 after buying an additional 665,213 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rumble by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock valued at $8,179,000 after buying an additional 16,778 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Rumble during the third quarter worth $5,042,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Rumble during the first quarter worth $5,040,000. Institutional investors and hedge funds own 26.15% 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 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.