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

Rumble Inc. (NASDAQ:RUM - Get Free Report) insider Claudio Ramolo sold 4,812,646 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 $36,094,845.00. Following the completion of the transaction, the insider now owns 14,283 shares of the company's stock, valued at approximately $107,122.50. This represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rumble Stock Performance

Shares of RUM traded up $0.22 during mid-day trading on Friday, hitting $11.52. 2,609,559 shares of the company were exchanged, compared to its average volume of 3,935,989. Rumble Inc. has a 1-year low of $4.92 and a 1-year high of $17.40. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -18.29 and a beta of 0.50. The company has a 50 day moving average of $11.56 and a 200-day moving average of $7.86.

Rumble (NASDAQ:RUM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to analysts' expectations of $29.25 million. During the same quarter last year, the business earned ($0.14) EPS. Research analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in shares of 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 buying an additional 830 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in Rumble during the fourth quarter worth about $35,000. Steward Partners Investment Advisory LLC grew its stake in Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company's stock valued at $38,000 after acquiring an additional 980 shares in the last quarter. Virtu Financial LLC acquired a new stake in Rumble in the 3rd quarter valued at about $70,000. Finally, Barclays PLC lifted its stake 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 purchasing an additional 11,784 shares in the last quarter. Hedge funds and other institutional investors own 26.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RUM. Wedbush restated a "neutral" rating and issued a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group assumed coverage on Rumble in a research report on Wednesday, January 15th. They issued a "buy" rating and a $20.00 price objective 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.