Rumble (NASDAQ:RUM) Stock Unloaded Sen. David McCormick

Senator David McCormick (R-Pennsylvania) recently sold shares of Rumble Inc. NASDAQ: RUM. In a filing disclosed on February 09th, the Senator disclosed that they had sold between $1,000,001 and $5,000,000 in Rumble stock on January 16th.

Rumble Stock Up 1.9 %

Shares of Rumble stock traded up $0.22 during trading on Friday, reaching $11.52. The company's stock had a trading volume of 2,609,559 shares, compared to its average volume of 4,310,058. The business's 50-day moving average price is $11.56 and its 200-day moving average price is $7.86. The firm has a market cap of $4.49 billion, a PE ratio of -18.29 and a beta of 0.50. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40.

Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings data 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 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 the consensus estimate of $29.25 million. During the same period in the prior year, the company earned ($0.14) EPS. Equities analysts predict that Rumble Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RUM. Wedbush reaffirmed a "neutral" rating and set a $8.00 price objective on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group began coverage on shares of Rumble in a research report on Wednesday, January 15th. They set a "buy" rating and a $20.00 price objective for the company.

Insider Transactions at Rumble

In other news, CEO Christopher Pavlovski sold 354,849 shares of the company'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 $2,661,367.50. Following the completion of the transaction, the chief executive officer now owns 522,927 shares of the company's stock, valued at $3,921,952.50. This represents a 40.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Tyler Hughes sold 312,727 shares of the 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 $2,345,452.50. Following the sale, the chief operating officer now directly owns 65,127 shares of the company's stock, valued at $488,452.50. This represents a 82.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,134,005 shares of company stock valued at $308,487,045. 70.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rumble

Several institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in shares of Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company's stock worth $26,000 after acquiring an additional 830 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Rumble in the fourth quarter worth about $35,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company's stock worth $38,000 after acquiring an additional 980 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Rumble in the third quarter worth about $70,000. Finally, Barclays PLC lifted its holdings in shares of Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company's stock worth $72,000 after acquiring an additional 11,784 shares during the last quarter. Institutional investors own 26.15% of the company's stock.

About Senator McCormick

David McCormick (Republican Party) is a member of the U.S. Senate from Pennsylvania. He assumed office on January 3, 2025. His current term ends on January 3, 2031. McCormick (Republican Party) ran for election to the U.S. Senate to represent Pennsylvania. He won in the general election on November 5, 2024. David McCormick was born in Washington, Pennsylvania, and lives in Pennsylvania. He served in the U.S. Army 82nd Airborne Division as a paratrooper, during which time he was deployed to the Middle East during the First Gulf War and reached the rank of Captain. McCormick received his bachelor's degree in mechanical engineering from the United States Military Academy at West Point and his Ph.D. in international affairs from Princeton University. His professional experience includes working as the CEO of a tech startup and of Bridgewater Associates, an investment management firm, and under secretary in both the Department of Commerce and the Department of the Treasury.

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.