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

Rumble Inc. (NASDAQ:RUM) insider Claudio Ramolo sold 4,812,646 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 14,283 shares in the company, valued at approximately $107,122.50. The trade was a 99.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rumble Trading Up 4.7 %

RUM opened at $11.30 on Friday. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -17.94 and a beta of 0.50. The company’s 50 day moving average is $11.47 and its 200 day moving average is $7.84. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40.

Rumble (NASDAQ:RUM) last issued its quarterly 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). The firm had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same period in the prior year, the firm earned ($0.14) EPS. As a group, analysts predict that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Rumble

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after buying an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in 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 purchasing an additional 980 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Rumble in the fourth quarter worth $78,000. Jones Financial Companies Lllp increased its position in Rumble by 423.1% in the fourth quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock worth $104,000 after purchasing an additional 6,473 shares during the last quarter. Finally, Stonegate Investment Group LLC bought a new stake in Rumble in the fourth quarter worth $130,000. Institutional investors own 26.15% of the company’s stock.

Wall Street Analyst Weigh In

RUM has been the topic of a number of recent analyst reports. Maxim Group initiated coverage on shares of Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target on the stock. Wedbush reaffirmed a “neutral” rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th.

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.