Rumble (NASDAQ:RUM) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Rumble (NASDAQ:RUM) announced its earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $28.13 million. During the same quarter last year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis.

Rumble Trading Down 1.3 %

Shares of Rumble stock opened at $8.50 on Thursday. The stock has a 50-day moving average price of $6.88 and a 200 day moving average price of $5.61. The company has a market cap of $3.28 billion, a P/E ratio of -19.77 and a beta of 0.77. Rumble has a 1 year low of $3.33 and a 1 year high of $11.25.

Institutional Investors Weigh In On Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in RUM. Harbour Investments Inc. raised 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 in the last quarter. Squarepoint Ops LLC bought a new position in shares of Rumble in the 4th quarter valued at approximately $75,000. ExodusPoint Capital Management LP bought a new position in shares of Rumble in the 4th quarter valued at approximately $77,000. Tower Research Capital LLC TRC raised its stake in shares of Rumble by 603.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,054 shares of the company’s stock valued at $87,000 after acquiring an additional 14,629 shares in the last quarter. Finally, Wetherby Asset Management Inc. bought a new position in shares of Rumble in the 1st quarter valued at approximately $100,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reiterated 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.