Insider Selling: Rumble Inc. (NASDAQ:RUM) Director Sells 35,000 Shares of Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $6.91, for a total transaction of $241,850.00. Following the sale, the director now directly owns 15,173,902 shares in the company, valued at approximately $104,851,662.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Robert Arsov also recently made the following trade(s):

• On Friday, May 3rd, Robert Arsov sold 35,000 shares of Rumble stock. The shares were sold at an average price of $6.85, for a total transaction of $239,750.00.
• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The stock was sold at an average price of $6.70, for a total value of $234,580.40.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The shares were sold at an average price of $6.72, for a total transaction of $235,200.00.
• On Tuesday, April 2nd, Robert Arsov sold 40,000 shares of Rumble stock. The stock was sold at an average price of $7.21, for a total value of $288,400.00.

Rumble Price Performance

Shares of RUM opened at $6.73 on Thursday. The firm has a 50-day simple moving average of $7.01 and a two-hundred day simple moving average of $5.89. The stock has a market cap of $2.60 billion, a PE ratio of -11.81 and a beta of 0.88. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $11.25.

Rumble (NASDAQ:RUM) last posted its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. During the same quarter last year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several institutional investors have recently bought and sold shares of RUM. HighPoint Advisor Group LLC purchased a new position in shares of Rumble in the fourth quarter valued at approximately $499,000. Janney Montgomery Scott LLC grew its stake in shares of Rumble by 69.8% in the third quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock worth $557,000 after acquiring an additional 44,863 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rumble by 15.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,025 shares of the company’s stock worth $252,000 after acquiring an additional 7,647 shares during the period. PFG Advisors raised its stake in shares of Rumble by 75.4% in the fourth quarter. PFG Advisors now owns 54,771 shares of the company’s stock valued at $246,000 after acquiring an additional 23,540 shares in the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in Rumble in the third quarter valued at $231,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Oppenheimer reaffirmed a “market perform” rating on shares of Rumble in a research note on Thursday, March 28th.

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.