Rumble Sees Unusually High Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) saw unusually large options trading activity on Monday. Stock traders acquired 14,057 call options on the company. This is an increase of 70% compared to the average daily volume of 8,259 call options.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 35,012 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $6.70, for a total transaction of $234,580.40. Following the completion of the sale, the director now directly owns 15,278,902 shares of the company’s stock, valued at $102,368,643.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 247,512 shares of company stock valued at $1,547,680 over the last three months. 72.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rumble

Hedge funds have recently modified their holdings of the business. Signaturefd LLC purchased a new position in Rumble during the fourth quarter worth approximately $32,000. Principal Securities Inc. purchased a new position in Rumble during the fourth quarter worth approximately $32,000. Global Retirement Partners LLC lifted its position in Rumble by 1,100.0% during the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after buying an additional 5,500 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in Rumble by 1,270.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after buying an additional 6,350 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Rumble during the second quarter worth approximately $67,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Rumble Price Performance

RUM stock traded up $0.30 during trading on Monday, hitting $6.24. The stock had a trading volume of 3,799,168 shares, compared to its average volume of 3,855,560. Rumble has a twelve month low of $3.33 and a twelve month high of $9.20. The company’s 50-day moving average price is $6.20 and its two-hundred day moving average price is $6.35. The stock has a market capitalization of $2.42 billion, a P/E ratio of -10.27 and a beta of 0.77.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $17.73 million for the quarter, compared to analyst estimates of $18.27 million. Rumble had a negative return on equity of 46.51% and a negative net margin of 161.62%. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, sell-side analysts expect that Rumble will post -0.58 EPS for the current fiscal year.

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.