Rumble Inc. (NASDAQ:RUM) Insider Sells $36,094,845.00 in Stock

Rumble Inc. (NASDAQ:RUM) insider Claudio Ramolo sold 4,812,646 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $36,094,845.00. Following the completion of the transaction, the insider now owns 14,283 shares of the company’s stock, valued at $107,122.50. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Rumble Trading Down 8.8 %

NASDAQ:RUM traded down $1.08 on Tuesday, hitting $11.17. 3,345,675 shares of the stock were exchanged, compared to its average volume of 4,398,688. The stock has a market cap of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50. The stock has a fifty day moving average of $11.32 and a 200-day moving average of $7.78. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter in the prior year, the company earned ($0.14) earnings per share. As a group, analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On Rumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUM. IFP Advisors Inc increased its stake in Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after acquiring an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after acquiring an additional 980 shares during the last quarter. Virtu Financial LLC acquired a new stake in Rumble during the third quarter worth about $70,000. Barclays PLC increased its stake in Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Rumble in the fourth quarter worth about $78,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RUM. Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group began coverage on Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price for the company.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming 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.