Insider Selling: Rumble Inc. (NASDAQ:RUM) Director Sells $234,580.40 in Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,012 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $6.70, for a total transaction of $234,580.40. Following the transaction, the director now directly owns 15,278,902 shares of the company’s stock, valued at $102,368,643.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Robert Arsov also recently made the following trade(s):

• On Friday, May 3rd, Robert Arsov sold 35,000 shares of Rumble stock. The shares were sold at an average price of $6.85, for a total value of $239,750.00.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The shares were sold at an average price of $6.72, for a total value of $235,200.00.
• On Tuesday, April 2nd, Robert Arsov sold 40,000 shares of Rumble stock. The shares were sold at an average price of $7.21, for a total value of $288,400.00.

Rumble Stock Performance

NASDAQ:RUM opened at $6.98 on Monday. Rumble Inc. has a 52-week low of $3.33 and a 52-week high of $11.25. The business’s fifty day moving average is $7.01 and its 200 day moving average is $5.87. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -12.25 and a beta of 0.88.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The firm had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $28.13 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts predict that Rumble Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a research note on Thursday, March 28th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RUM. Global Retirement Partners LLC raised its position in shares of Rumble by 1,100.0% in the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after buying an additional 5,500 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Rumble by 1,270.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after acquiring an additional 6,350 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Rumble in the 4th quarter valued at about $32,000. Signaturefd LLC bought a new stake in shares of Rumble during the 4th quarter valued at about $32,000. Finally, Solano Wealth Management Inc. purchased a new position in shares of Rumble during the third quarter worth about $51,000. 26.15% of the stock is owned by institutional investors.

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.