Rumble Inc. (NASDAQ:RUM) CEO Sells $2,661,367.50 in Stock

Rumble Inc. (NASDAQ:RUM) CEO Christopher Pavlovski sold 354,849 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 value of $2,661,367.50. Following the completion of the sale, the chief executive officer now directly owns 522,927 shares of the company’s stock, valued at approximately $3,921,952.50. The trade was a 40.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rumble Stock Down 8.8 %

Shares of Rumble stock opened at $11.17 on Wednesday. The stock has a market capitalization of $4.35 billion, a P/E ratio of -17.73 and a beta of 0.50. The stock has a 50 day moving average price of $11.32 and a two-hundred day moving average price of $7.78. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data 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). 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 in the prior year, the company posted ($0.14) earnings per share. Sell-side analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On Rumble

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc boosted its position in shares of Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after acquiring an additional 830 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Rumble by 50.2% in the fourth 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. Virtu Financial LLC bought a new stake in shares of Rumble in the third quarter valued at approximately $70,000. Barclays PLC boosted its position in shares of Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of Rumble in the fourth quarter valued at approximately $78,000. 26.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Maxim Group assumed coverage on Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price for the company. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a research report on Wednesday, November 13th.

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.