Insider Selling: Rumble Inc. (NASDAQ:RUM) COO Sells 312,727 Shares of Stock

Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes sold 312,727 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $2,345,452.50. Following the transaction, the chief operating officer now owns 65,127 shares in the company, valued at approximately $488,452.50. This trade represents a 82.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rumble Stock Down 8.8 %

RUM opened at $11.17 on Wednesday. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -17.73 and a beta of 0.50. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The company’s 50-day moving average price is $11.32 and its two-hundred day moving average price is $7.78.

Rumble (NASDAQ:RUM) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $25.06 million during the quarter, compared to analysts’ expectations 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 previous year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cypress Point Wealth Management LLC bought a new stake in shares of Rumble in the third quarter valued at approximately $98,000. RIA Advisory Group LLC bought a new stake in shares of Rumble in the third quarter valued at approximately $81,000. Charles Schwab Investment Management Inc. raised its position in shares of Rumble by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after purchasing an additional 24,879 shares during the period. FMR LLC raised its position in shares of Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after purchasing an additional 20,343 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rumble by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after purchasing an additional 5,348 shares during the period. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RUM shares. Wedbush restated a “neutral” rating and set a $8.00 price target 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 on the 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.