Rumble (NASDAQ:RUM) Trading Down 5.8%

Rumble Inc. (NASDAQ:RUM) shares dropped 5.8% during mid-day trading on Wednesday . The stock traded as low as $6.61 and last traded at $6.65. Approximately 515,219 shares were traded during trading, a decline of 90% from the average daily volume of 5,423,307 shares. The stock had previously closed at $7.06.

Wall Street Analysts Forecast Growth

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

Rumble Stock Performance

The stock has a market capitalization of $2.54 billion, a P/E ratio of -11.63 and a beta of 0.82. The stock has a 50-day moving average price of $7.02 and a two-hundred day moving average price of $5.83.

Rumble (NASDAQ:RUM) last issued 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 firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Equities analysts anticipate that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Rumble

In related news, Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $6.72, for a total transaction of $235,200.00. Following the sale, the director now directly owns 15,348,914 shares in the company, valued at $103,144,702.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $6.72, for a total transaction of $235,200.00. Following the sale, the director now directly owns 15,348,914 shares in the company, valued at $103,144,702.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brandon Alexandroff sold 900,000 shares of Rumble stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.00, for a total value of $6,300,000.00. Following the sale, the chief financial officer now owns 31,776 shares in the company, valued at $222,432. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,683,896 shares of company stock worth $11,821,229. 72.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Rumble by 7.9% during the third quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company’s stock valued at $181,000 after buying an additional 2,581 shares during the last quarter. PFG Advisors raised its stake in Rumble by 75.4% during the fourth quarter. PFG Advisors now owns 54,771 shares of the company’s stock valued at $246,000 after buying an additional 23,540 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Rumble by 69.8% during the third quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock valued at $557,000 after buying an additional 44,863 shares during the last quarter. Private Advisor Group LLC raised its stake in Rumble by 39.0% during the third quarter. Private Advisor Group LLC now owns 44,877 shares of the company’s stock valued at $229,000 after buying an additional 12,596 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Rumble by 26.8% in the third quarter. Sigma Planning Corp now owns 24,341 shares of the company’s stock worth $124,000 after purchasing an additional 5,150 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.

About Rumble

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.