Brandon Alexandroff Sells 6,828,420 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff sold 6,828,420 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the sale, the chief financial officer now owns 64,210 shares in the company, valued at $481,575. This represents a 99.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rumble Price Performance

Shares of Rumble stock opened at $11.30 on Friday. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40. The firm has a market capitalization of $4.40 billion, a P/E ratio of -17.94 and a beta of 0.50. The company’s 50 day moving average price is $11.47 and its two-hundred day moving average price is $7.84.

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 business had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same quarter last year, the firm posted ($0.14) EPS. On average, analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RUM has been the topic of a number of research analyst reports. Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group initiated coverage on shares of Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price on the stock.

Hedge Funds Weigh In On Rumble

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Rumble by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock worth $103,723,000 after purchasing an additional 229,294 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rumble by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company’s stock worth $13,550,000 after purchasing an additional 5,326 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rumble by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company’s stock worth $6,411,000 after purchasing an additional 14,476 shares during the period. Arete Wealth Advisors LLC acquired a new position in shares of Rumble during the fourth quarter worth $2,540,000. Finally, LPL Financial LLC lifted its holdings in shares of Rumble by 18.9% during the fourth quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock worth $1,423,000 after purchasing an additional 17,391 shares during the period. Institutional investors and hedge funds 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.