Virtu Financial LLC Invests $70,000 in Rumble Inc. (NASDAQ:RUM)

Virtu Financial LLC acquired a new stake in shares of Rumble Inc. (NASDAQ:RUM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,050 shares of the company’s stock, valued at approximately $70,000.

Several other institutional investors have also bought and sold shares of RUM. Redwood Wealth Management Group LLC acquired a new stake in Rumble during the 2nd quarter worth about $30,000. Bank of New York Mellon Corp acquired a new stake in Rumble during the 2nd quarter valued at $66,000. SG Americas Securities LLC acquired a new stake in Rumble during the 2nd quarter valued at $67,000. Barclays PLC lifted its holdings in shares of Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after purchasing an additional 11,784 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in shares of Rumble in the third quarter worth $81,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Rumble Trading Down 1.1 %

Rumble stock opened at $7.19 on Friday. The company has a market capitalization of $2.80 billion, a P/E ratio of -11.41 and a beta of 0.81. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $9.20. The firm’s fifty day simple moving average is $6.61 and its 200-day simple moving average is $6.08.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter last year, the business earned ($0.14) EPS. On average, equities research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

Insider Activity

In other news, Director Robert Arsov sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $5.93, for a total transaction of $177,900.00. Following the sale, the director now directly owns 12,517,337 shares in the company, valued at approximately $74,227,808.41. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 169,988 shares of company stock valued at $986,517. 72.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research report on Wednesday, November 13th.

Rumble Company 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.