Platform Technology Partners Has $692,000 Position in Rumble Inc. (NASDAQ:RUM)

Platform Technology Partners reduced its position in shares of Rumble Inc. (NASDAQ:RUM) by 19.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,555 shares of the company’s stock after selling 19,395 shares during the period. Platform Technology Partners’ holdings in Rumble were worth $692,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Rumble by 48.4% in the 1st quarter. US Bancorp DE now owns 3,065 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Rumble by 36.7% during the 1st quarter. IFP Advisors Inc now owns 4,330 shares of the company’s stock worth $73,000 after buying an additional 1,163 shares in the last quarter. Wetherby Asset Management Inc. acquired a new position in shares of Rumble during the 1st quarter worth $100,000. Sculati Wealth Management LLC acquired a new position in shares of Rumble during the 1st quarter worth $115,000. Finally, Squarepoint Ops LLC bought a new stake in Rumble during the 4th quarter worth $75,000. 6.47% of the stock is owned by institutional investors and hedge funds.

Rumble Price Performance

RUM stock traded down $0.61 during midday trading on Monday, reaching $6.18. 2,462,453 shares of the stock were exchanged, compared to its average volume of 1,279,268. The stock has a market capitalization of $2.38 billion, a PE ratio of -20.80 and a beta of 0.56. Rumble Inc. has a 52 week low of $5.81 and a 52 week high of $17.23. The company has a fifty day moving average price of $7.84 and a 200 day moving average price of $8.73.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Rumble had a negative net margin of 82.86% and a negative return on equity of 20.57%. The company had revenue of $24.97 million during the quarter, compared to the consensus estimate of $19.89 million. As a group, analysts anticipate that Rumble Inc. will post -0.61 earnings per share for the current fiscal year.

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.