Robert Arsov Sells 35,000 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.85, for a total value of $239,750.00. Following the transaction, the director now owns 15,208,902 shares of the company’s stock, valued at $104,180,978.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The shares were sold at an average price of $6.70, for a total transaction of $234,580.40.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The stock was sold at an average price of $6.72, for a total transaction 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 transaction of $288,400.00.

Rumble Price Performance

Shares of RUM stock opened at $6.98 on Monday. The stock has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $5.87. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $11.25. The company 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 posted its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08. The company had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $28.13 million. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. Analysts anticipate that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Rumble

Institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC lifted 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 valued at $48,000 after acquiring an additional 5,500 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Rumble by 1,270.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after purchasing an additional 6,350 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Rumble in the fourth quarter valued at about $32,000. Signaturefd LLC acquired a new stake in shares of Rumble in the fourth quarter valued at about $32,000. Finally, Solano Wealth Management Inc. purchased a new position in shares of Rumble in the third quarter worth about $51,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.