Rumble Inc. (NASDAQ:RUM) Short Interest Up 24.6% in February

Rumble Inc. (NASDAQ:RUM - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 12,400,000 shares, an increase of 24.6% from the February 13th total of 9,950,000 shares. Based on an average daily trading volume, of 6,410,000 shares, the short-interest ratio is currently 1.9 days. Approximately 6.6% of the shares of the company are sold short.

Insider Activity at Rumble

In other Rumble news, insider Claudio Ramolo sold 4,812,646 shares of Rumble stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $36,094,845.00. Following the sale, the insider now owns 14,283 shares of the company's stock, valued at approximately $107,122.50. The trade was a 99.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ryan Milnes sold 24,978,210 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $187,336,575.00. Following the transaction, the director now owns 57,290 shares in the company, valued at $429,675. The trade was a 99.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,104,017 shares of company stock worth $308,280,128 in the last three months. Insiders own 70.10% of the company's stock.

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Institutional Trading of Rumble

Several large investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its position in shares of Rumble by 9,234.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company's stock worth $17,587,000 after buying an additional 1,337,321 shares in the last quarter. Millennium Management LLC grew its position in shares of Rumble by 287.7% in the fourth quarter. Millennium Management LLC now owns 781,747 shares of the company's stock valued at $10,171,000 after purchasing an additional 580,105 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Rumble during the 4th quarter worth approximately $4,093,000. Balyasny Asset Management L.P. acquired a new position in shares of Rumble during the 4th quarter worth approximately $3,966,000. Finally, Centiva Capital LP purchased a new stake in Rumble in the 4th quarter valued at approximately $3,304,000. Institutional investors and hedge funds own 26.15% of the company's stock.

Rumble Price Performance

Shares of RUM remained flat at $7.74 on Friday. The company had a trading volume of 4,806,940 shares, compared to its average volume of 3,091,568. Rumble has a 1-year low of $4.92 and a 1-year high of $17.38. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -12.29 and a beta of 0.56. The company's fifty day moving average is $10.64 and its 200-day moving average is $8.40.

Analyst Ratings Changes

Separately, Maxim Group assumed coverage on shares of Rumble in a research note 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.