Rumble Inc. (NASDAQ:RUM) CEO Sells $2,661,367.50 in Stock

Rumble Inc. (NASDAQ:RUM - Get Free Report) CEO Christopher Pavlovski sold 354,849 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the completion of the sale, the chief executive officer now owns 522,927 shares in the company, valued at $3,921,952.50. The trade was a 40.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rumble Stock Performance

Shares of RUM stock traded up $0.22 during mid-day trading on Friday, hitting $11.52. 2,609,559 shares of the stock traded hands, compared to its average volume of 3,935,989. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The company's 50-day simple moving average is $11.56 and its 200-day simple moving average is $7.86. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -18.29 and a beta of 0.50.

Rumble (NASDAQ:RUM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. Analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Rumble

Several hedge funds have recently made changes to their positions in the business. Cypress Point Wealth Management LLC purchased a new stake in shares of Rumble during the third quarter valued at $98,000. RIA Advisory Group LLC acquired a new stake in Rumble during the 3rd quarter worth about $81,000. Charles Schwab Investment Management Inc. lifted its stake in Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company's stock valued at $2,564,000 after buying an additional 24,879 shares in the last quarter. FMR LLC boosted its holdings in shares of Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company's stock worth $120,000 after buying an additional 20,343 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rumble by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company's stock worth $166,000 after acquiring an additional 5,348 shares in the last quarter. Institutional investors and hedge funds own 26.15% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RUM. Wedbush reissued a "neutral" rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th. Maxim Group started coverage on shares of Rumble in a research report on Wednesday, January 15th. They set a "buy" rating and a $20.00 price target on the stock.

Rumble Company Profile

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.