Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes Sells 312,727 Shares

Rumble Inc. (NASDAQ:RUM - Get Free Report) COO Tyler Hughes sold 312,727 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,345,452.50. Following the transaction, the chief operating officer now owns 65,127 shares in the company, valued at approximately $488,452.50. This represents a 82.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rumble Stock Up 1.9 %

Shares of NASDAQ:RUM traded up $0.22 on Friday, reaching $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 capitalization of $4.49 billion, a P/E ratio of -18.29 and a beta of 0.50. The stock has a 50-day moving average price of $11.56 and a 200 day moving average price of $7.86. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last announced 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 company had revenue of $25.06 million for the quarter, compared to the consensus estimate of $29.25 million. During the same period in the previous year, the company earned ($0.14) EPS. On average, sell-side analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Rumble

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company's stock worth $5,553,000 after acquiring an additional 130,956 shares during the last quarter. Barclays PLC lifted its position in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after purchasing an additional 11,784 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company's stock valued at $2,564,000 after purchasing an additional 24,879 shares during the period. MML Investors Services LLC acquired a new stake in Rumble in the 3rd quarter valued at approximately $185,000. Finally, FMR LLC lifted its holdings in shares of Rumble by 995.3% during 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 last quarter. 26.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RUM shares. Wedbush reiterated a "neutral" rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th. Maxim Group assumed 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.

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.