Investors Buy Large Volume of Rumble Call Options (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 34,495 call options on the stock. This represents an increase of approximately 309% compared to the average daily volume of 8,439 call options.

Wall Street Analyst Weigh In

Several brokerages recently commented on RUM. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rumble in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Rumble presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rumble

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Rumble by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company’s stock worth $1,643,000 after buying an additional 1,475 shares during the last quarter. Cetera Investment Advisers raised its stake in Rumble by 9.5% during the 4th quarter. Cetera Investment Advisers now owns 23,396 shares of the company’s stock valued at $148,000 after acquiring an additional 2,032 shares during the last quarter. Bank of America Corp DE lifted its position in Rumble by 0.4% during the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock worth $5,725,000 after acquiring an additional 2,678 shares during the period. Daiwa Securities Group Inc. lifted its position in Rumble by 47.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company’s stock worth $58,000 after acquiring an additional 2,993 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Rumble by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 94,058 shares of the company’s stock valued at $681,000 after purchasing an additional 3,008 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Rumble Stock Performance

Shares of RUM opened at $8.80 on Thursday. The company’s 50 day simple moving average is $6.94 and its 200-day simple moving average is $6.67. The firm has a market cap of $4.36 billion, a PE ratio of -14.92 and a beta of 1.21. Rumble has a 12-month low of $4.62 and a 12-month high of $10.60. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The business had revenue of $40.37 million during the quarter, compared to analysts’ expectations of $31.23 million. During the same quarter last year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. As a group, equities analysts predict that Rumble will post -0.55 EPS for the current year.

About Rumble

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.