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

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

Rumble Price Performance

Shares of NASDAQ RUM opened at $8.50 on Thursday. The firm has a fifty day moving average price of $6.88 and a 200-day moving average price of $5.61. The stock has a market cap of $3.28 billion, a PE 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.

Analysts Set New Price Targets

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

Institutional Trading of Rumble

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. lifted its position in Rumble by 11.4% during the fourth quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock valued at $67,000 after purchasing an additional 1,540 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Rumble in the 4th quarter worth about $75,000. ExodusPoint Capital Management LP bought a new stake in shares of Rumble in the 4th quarter worth about $77,000. Tower Research Capital LLC TRC lifted its holdings 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 worth $87,000 after acquiring an additional 14,629 shares during the last quarter. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Rumble in the 1st quarter worth about $100,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.