Rumble Inc. (NASDAQ:RUM) CEO Sells $2,661,367.50 in Stock

Rumble Inc. (NASDAQ:RUM) CEO Christopher Pavlovski sold 354,849 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the transaction, the chief executive officer now owns 522,927 shares of the company’s stock, valued at $3,921,952.50. The trade was a 40.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rumble Price Performance

RUM stock traded down $1.08 during trading hours on Tuesday, reaching $11.17. The stock had a trading volume of 3,345,675 shares, compared to its average volume of 4,398,688. The stock has a market capitalization of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50. The stock has a 50-day simple moving average of $11.32 and a 200 day simple moving average of $7.78. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40.

Rumble (NASDAQ:RUM) last announced 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 during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned ($0.14) EPS. On average, sell-side analysts forecast that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of Rumble

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Rumble by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock valued at $103,723,000 after buying an additional 229,294 shares during the period. LPL Financial LLC increased its holdings in Rumble by 18.9% in the 4th quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after buying an additional 17,391 shares during the period. KLP Kapitalforvaltning AS bought a new position in Rumble in the 4th quarter valued at about $138,000. Virtu Financial LLC increased its holdings in Rumble by 88.4% in the 4th quarter. Virtu Financial LLC now owns 24,589 shares of the company’s stock valued at $320,000 after buying an additional 11,539 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Rumble in the 4th quarter valued at about $468,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.