Insider Selling: Rumble Inc. (NASDAQ:RUM) Director Sells 40,000 Shares of Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $7.21, for a total value of $288,400.00. Following the completion of the transaction, the director now directly owns 15,423,914 shares of the company’s stock, valued at approximately $111,206,419.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rumble Price Performance

Shares of RUM traded down $0.64 during midday trading on Wednesday, reaching $6.68. 3,942,211 shares of the stock were exchanged, compared to its average volume of 6,733,383. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.72 and a beta of 0.82. Rumble Inc. has a twelve month low of $3.33 and a twelve month high of $11.25. The business’s 50-day moving average price is $7.22 and its 200 day moving average price is $5.64.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. Rumble’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. As a group, equities research analysts expect that Rumble Inc. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Rumble

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Rumble by 12.7% in the second quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock valued at $15,507,000 after acquiring an additional 196,564 shares during the period. State Street Corp grew its position in Rumble by 236.7% in the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock worth $8,440,000 after purchasing an additional 665,213 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rumble by 1.9% in the second quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock valued at $8,179,000 after purchasing an additional 16,778 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Rumble in the third quarter valued at approximately $5,042,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Rumble during the 1st quarter valued at $5,040,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a research note on Thursday, March 28th.

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.