Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes Sells 312,727 Shares

Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes sold 312,727 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,345,452.50. Following the completion of the sale, the chief operating officer now owns 65,127 shares in the company, valued at approximately $488,452.50. The trade was a 82.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rumble Stock Down 8.8 %

Shares of NASDAQ RUM traded down $1.08 during midday trading on Tuesday, reaching $11.17. 3,345,675 shares of the company’s stock traded hands, compared to its average volume of 4,398,688. The company has a market cap of $4.35 billion, a price-to-earnings ratio of -17.73 and a beta of 0.50. The stock’s 50 day simple moving average is $11.32 and its 200-day simple moving average is $7.78. Rumble Inc. has a one year low of $4.92 and a one year high of $17.40.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter last year, the company earned ($0.14) earnings per share. Equities analysts predict that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of Rumble

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after buying an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings 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 acquired a new position in shares of Rumble during the fourth quarter worth $78,000. Jones Financial Companies Lllp lifted its holdings in shares of Rumble by 423.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock valued at $104,000 after purchasing an additional 6,473 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Rumble in the 4th quarter worth $130,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group initiated coverage on Rumble in a 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.