Stock Traders Buy High Volume of Rumble Call Options (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of some unusual options trading on Monday. Stock investors purchased 26,143 call options on the company. This represents an increase of 182% compared to the average volume of 9,260 call options.

Rumble Stock Performance

RUM opened at $12.68 on Wednesday. The stock’s 50 day moving average price is $6.76 and its 200-day moving average price is $6.12. Rumble has a one year low of $3.33 and a one year high of $15.27. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -20.13 and a beta of 0.81.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $25.06 million during the quarter, compared to the consensus estimate of $29.25 million. During the same period last year, the company earned ($0.14) EPS. As a group, analysts predict that Rumble will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total transaction of $140,800.00. Following the completion of the transaction, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 169,988 shares of company stock worth $986,517 over the last ninety days. Company insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUM. Geode Capital Management LLC boosted its position in Rumble by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after buying an additional 130,956 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rumble by 5.5% in the 3rd 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. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Rumble by 5.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock worth $976,000 after buying an additional 8,824 shares during the period. MML Investors Services LLC bought a new position in shares of Rumble during the 3rd quarter worth $185,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Rumble during the third quarter valued at $184,000. Institutional investors own 26.15% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reaffirmed a “neutral” rating and set a $8.00 price target on shares of Rumble in a research note 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.