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 stock was sold at an average price of $7.50, for a total transaction of $36,094,845.00. Following the completion of the sale, the insider now owns 14,283 shares of the company’s stock, valued at $107,122.50. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Rumble Price Performance

Shares of RUM opened at $10.79 on Thursday. 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 Inc. has a 1-year low of $4.92 and a 1-year high of $17.40. The company has a 50-day moving average of $11.41 and a 200 day moving average of $7.82.

Rumble (NASDAQ:RUM) last posted 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 company 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 firm posted ($0.14) EPS. On average, equities analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RUM. Cypress Point Wealth Management LLC purchased a new stake in shares of Rumble during the 3rd quarter valued at $98,000. RIA Advisory Group LLC purchased a new position in shares of Rumble in the 3rd quarter valued at approximately $81,000. Charles Schwab Investment Management Inc. boosted its stake in Rumble by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares in the last quarter. FMR LLC increased its stake in Rumble by 995.3% during the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after purchasing an additional 20,343 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rumble by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after purchasing an additional 5,348 shares during the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Maxim Group assumed coverage on Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price on the stock. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Rumble in a research 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.