Brandon Alexandroff Sells 6,828,420 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff sold 6,828,420 shares of Rumble stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the transaction, the chief financial officer now directly owns 64,210 shares of the company’s stock, valued at $481,575. This represents a 99.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rumble Stock Down 3.4 %

Shares of NASDAQ:RUM opened at $10.79 on Thursday. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The stock’s 50 day moving average is $11.41 and its 200-day moving average is $7.82. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -17.13 and a beta of 0.50.

Rumble (NASDAQ:RUM) last released 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). The business had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter in the previous year, the company posted ($0.14) EPS. Equities research analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RUM. Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group started coverage on shares of Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective on the stock.

Institutional Trading of Rumble

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in 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 purchasing an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after buying an additional 980 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Rumble in the fourth quarter worth about $78,000. Jones Financial Companies Lllp boosted its stake in Rumble by 423.1% in the fourth quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock valued at $104,000 after acquiring an additional 6,473 shares during the last quarter. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Rumble during the 4th quarter worth approximately $130,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.