Rumble Inc. (NASDAQ:RUM) COO Sells $2,345,452.50 in Stock

Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes sold 312,727 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,345,452.50. Following the completion of the sale, the chief operating officer now owns 65,127 shares of the company’s stock, valued at approximately $488,452.50. The trade was a 82.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rumble Trading Up 4.7 %

Shares of RUM stock opened at $11.30 on Friday. The company has a market capitalization of $4.40 billion, a PE ratio of -17.94 and a beta of 0.50. The firm has a fifty day simple moving average of $11.47 and a 200-day simple moving average of $7.84. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm 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 last year, the company posted ($0.14) earnings per share. Equities research analysts predict that Rumble Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RUM shares. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group started coverage on shares of Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective for the company.

Institutional Trading of Rumble

Several institutional investors have recently added to or reduced their stakes in RUM. IFP Advisors Inc raised its holdings in shares of Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after purchasing an additional 980 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Rumble by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock worth $174,000 after purchasing an additional 1,510 shares during the period. Sigma Planning Corp raised its holdings in shares of Rumble by 17.8% during the fourth quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock worth $343,000 after purchasing an additional 3,985 shares during the period. Finally, Geode Capital Management LLC raised 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. 26.15% of the stock is owned by institutional investors and hedge funds.

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.