Rumble (NASDAQ:RUM) Stock Price Down 5.3% – Here’s Why

Rumble Inc. (NASDAQ:RUM) fell 5.3% during trading on Monday . The company traded as low as $12.08 and last traded at $12.08. 5,359,665 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 4,314,232 shares. The stock had previously closed at $12.75.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RUM. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th. Maxim Group started coverage on shares of Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target for the company.

Rumble Price Performance

The stock has a 50-day moving average price of $11.41 and a 200-day moving average price of $7.82. The company has a market capitalization of $4.21 billion, a P/E ratio of -17.13 and a beta of 0.50.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm 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 last year, the company posted ($0.14) EPS. Sell-side analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the transaction, the director now owns 12,487,349 shares in the company, valued at $86,162,708.10. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Wojciech Hlibowicki sold 3,817,165 shares of Rumble stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $28,628,737.50. Following the sale, the chief technology officer now owns 4,592 shares in the company, valued at $34,440. The trade was a 99.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,134,005 shares of company stock worth $308,487,045 in the last ninety days. Corporate insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Rumble by 50.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after buying an additional 980 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Rumble in the 3rd quarter worth $70,000. Barclays PLC raised its position in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Rumble during the 4th quarter worth $78,000. 26.15% of the stock is currently owned by hedge funds and other 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.