Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes Sells 24,978,210 Shares

Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes sold 24,978,210 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the transaction, the director now directly owns 57,290 shares in the company, valued at $429,675. This trade represents a 99.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rumble Stock Performance

Shares of NASDAQ RUM opened at $11.17 on Wednesday. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40. 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 firm’s 50-day simple moving average is $11.32 and its 200 day simple moving average is $7.78.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $25.06 million during 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 quarter last year, the business posted ($0.14) EPS. On average, sell-side analysts predict that Rumble Inc. will post -0.62 EPS for the current year.

Institutional Investors Weigh In On Rumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in shares of Rumble by 70.9% during the 4th 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 stake in shares of Rumble by 50.2% during the 4th 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 purchased a new stake in shares of Rumble during the 4th quarter worth approximately $78,000. Jones Financial Companies Lllp increased its stake 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 worth $104,000 after purchasing 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.

Analysts Set New Price Targets

Several brokerages recently weighed in on RUM. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target 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 issued a “buy” rating and a $20.00 price target on the stock.

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.