Rumble (NASDAQ:RUM) Shares Gap Up – Still a Buy?

Rumble Inc. (NASDAQ:RUM) gapped up before the market opened on Tuesday . The stock had previously closed at $11.52, but opened at $12.03. Rumble shares last traded at $11.89, with a volume of 846,879 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RUM. 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 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.

Rumble Trading Up 0.5 %

The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of -18.38 and a beta of 0.50. The business has a 50 day simple moving average of $11.69 and a 200-day simple moving average of $7.96.

Insider Transactions at Rumble

In other news, CEO Christopher Pavlovski sold 354,849 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 $2,661,367.50. Following the completion of the sale, the chief executive officer now directly owns 522,927 shares in the company, valued at $3,921,952.50. This represents a 40.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Arsov sold 29,988 shares of Rumble stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.90, for a total value of $206,917.20. Following the completion of the transaction, the director now owns 12,487,349 shares in the company, valued at $86,162,708.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,134,005 shares of company stock worth $308,487,045 in the last three months. Company insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after purchasing an additional 130,956 shares during the period. Barclays PLC lifted its stake in shares of Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 worth $2,564,000 after buying an additional 24,879 shares during the period. MML Investors Services LLC acquired a new stake in shares of Rumble in the third quarter valued at about $185,000. Finally, FMR LLC raised its holdings in shares of Rumble by 995.3% during the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after buying an additional 20,343 shares during the period. 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.