Rumble (NASDAQ:RUM) Announces Earnings Results

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

Rumble Stock Down 4.9 %

Rumble stock opened at $8.08 on Friday. The stock has a 50-day simple moving average of $6.98 and a 200 day simple moving average of $5.63. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -18.79 and a beta of 0.77. Rumble has a 12-month low of $3.33 and a 12-month high of $11.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wetherby Asset Management Inc. acquired a new position in shares of Rumble during the first quarter valued at $100,000. Squarepoint Ops LLC acquired a new position in Rumble during the 4th quarter valued at about $75,000. ExodusPoint Capital Management LP bought a new position in shares of Rumble in the 4th quarter valued at about $77,000. Stifel Financial Corp boosted its stake in Rumble by 14.2% in the second quarter. Stifel Financial Corp now owns 13,290 shares of the company’s stock valued at $119,000 after acquiring an additional 1,649 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Rumble by 11.4% in the 4th quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock valued at $67,000 after acquiring an additional 1,540 shares during the last quarter. Institutional investors own 26.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.