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

Rumble (NASDAQ:RUM) released 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 company had revenue of $20.39 million for the quarter, compared to the consensus estimate of $28.13 million. During the same period in the previous year, the business earned ($0.06) earnings per share. Rumble’s quarterly revenue was up 2.2% compared to the same quarter last year.

Rumble Stock Down 1.3 %

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

Institutional Investors Weigh In On Rumble

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Rumble by 3,674.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 76,961 shares of the company’s stock worth $346,000 after purchasing an additional 74,922 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Rumble by 11.4% in the fourth quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock worth $67,000 after purchasing an additional 1,540 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Rumble in the fourth quarter worth about $400,000. Northern Trust Corp increased its holdings in shares of Rumble by 43.9% in the fourth quarter. Northern Trust Corp now owns 198,792 shares of the company’s stock worth $893,000 after purchasing an additional 60,685 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in Rumble during the fourth quarter worth approximately $573,000. 26.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Rumble

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.