Rumble Inc. (NASDAQ:RUM) CTO Wojciech Hlibowicki Sells 3,817,165 Shares of Stock

Rumble Inc. (NASDAQ:RUM) CTO Wojciech Hlibowicki sold 3,817,165 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 $28,628,737.50. Following the sale, the chief technology officer now directly owns 4,592 shares in the company, valued at $34,440. The trade was a 99.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rumble Stock Performance

RUM opened at $11.17 on Wednesday. The stock 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 moving average price is $11.32 and its 200-day moving average price 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 released its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $25.06 million for the quarter, compared to the consensus estimate 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 company posted ($0.14) EPS. As a group, analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its stake 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 grew its stake 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 in the last quarter. Global Retirement Partners LLC bought a new position in Rumble in the fourth quarter worth approximately $78,000. Jones Financial Companies Lllp grew 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 worth $104,000 after purchasing an additional 6,473 shares in the last quarter. Finally, Stonegate Investment Group LLC bought a new position in Rumble in the fourth quarter worth approximately $130,000. Institutional investors own 26.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on RUM shares. Maxim Group started coverage on Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective on the stock. Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research note on Wednesday, November 13th.

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.