Insider Selling: Rumble Inc. (NASDAQ:RUM) CFO Sells 6,828,420 Shares of Stock

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

Rumble Trading Down 8.8 %

Rumble stock traded down $1.08 during mid-day trading on Tuesday, hitting $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 12 month low of $4.92 and a 12 month high of $17.40. 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 two-hundred day simple moving average of $7.78.

Rumble (NASDAQ:RUM) last issued its earnings results 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 return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $25.06 million for the quarter, compared to the consensus estimate of $29.25 million. During the same quarter last year, the business posted ($0.14) EPS. Sell-side analysts expect that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rumble

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUM. IFP Advisors Inc raised its position in Rumble by 70.9% in the 4th 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 shares of Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after acquiring an additional 980 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Rumble during the 4th quarter valued at $78,000. Jones Financial Companies Lllp lifted its position in shares of Rumble by 423.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock valued at $104,000 after acquiring an additional 6,473 shares during the period. Finally, Stonegate Investment Group LLC acquired a new position in shares of Rumble during the 4th quarter worth $130,000. Institutional investors own 26.15% of the company’s stock.

Analysts Set New Price Targets

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