Rumble Inc. (NASDAQ:RUM) Director Sells $187,336,575.00 in Stock

Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes sold 24,978,210 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the sale, the director now directly owns 57,290 shares of the company’s stock, valued at $429,675. The trade was a 99.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rumble Price Performance

Shares of RUM traded down $1.08 during mid-day trading 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. Rumble Inc. has a 52-week low of $4.92 and a 52-week high of $17.40. The business’s fifty day moving average is $11.32 and its 200 day moving average is $7.78. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -17.73 and a beta of 0.50.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The firm had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $29.25 million. During the same period in the prior year, the company posted ($0.14) EPS. As a group, sell-side analysts anticipate that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports 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 reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Rumble

A number of hedge funds have recently modified their holdings of RUM. IFP Advisors Inc lifted its position in Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after buying an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after buying an additional 980 shares during the last quarter. Virtu Financial LLC acquired a new position in Rumble in the third quarter valued at about $70,000. Barclays PLC lifted its position in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Rumble in the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.