Insider Selling: Rumble Inc. (NASDAQ:RUM) CFO Sells 6,828,420 Shares of Stock

Rumble Inc. (NASDAQ:RUM - Get Free Report) CFO Brandon Alexandroff sold 6,828,420 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $51,213,150.00. Following the sale, the chief financial officer now directly owns 64,210 shares in the company, valued at $481,575. This trade represents a 99.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Rumble Stock Up 1.9 %

Shares of Rumble stock traded up $0.22 during midday trading on Friday, hitting $11.52. The company had a trading volume of 2,609,559 shares, compared to its average volume of 3,935,989. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -18.29 and a beta of 0.50. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40. The company has a fifty day simple moving average of $11.56 and a 200 day simple moving average of $7.86.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RUM shares. Maxim Group began coverage on shares of Rumble in a research note on Wednesday, January 15th. They issued a "buy" rating and a $20.00 target price for the company. Wedbush reissued a "neutral" rating and issued a $8.00 price objective on shares of Rumble in a research report on Wednesday, November 13th.

Institutional Trading of Rumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUM. Geode Capital Management LLC raised its stake in shares of Rumble by 14.5% in the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company's stock worth $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Barclays PLC increased its holdings in Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after buying an additional 11,784 shares during the period. Charles Schwab Investment Management Inc. raised its position in Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company's stock worth $2,564,000 after buying an additional 24,879 shares during the last quarter. MML Investors Services LLC acquired a new stake in Rumble during the 3rd quarter valued at approximately $185,000. Finally, FMR LLC boosted its holdings in shares of Rumble by 995.3% in the 3rd quarter. FMR LLC now owns 22,387 shares of the company's stock valued at $120,000 after acquiring an additional 20,343 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company's stock.

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.