Rumble Inc. (NASDAQ:RUM) Director Robert Arsov Sells 27,500 Shares of Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $5.24, for a total transaction of $144,100.00. Following the sale, the director now owns 12,714,837 shares of the company’s stock, valued at $66,625,745.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, October 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.12, for a total value of $140,800.00.
• On Thursday, September 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.59, for a total value of $153,725.00.
• On Tuesday, September 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.57, for a total transaction of $153,175.00.
• On Monday, August 5th, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.87, for a total transaction of $161,425.00.
• On Thursday, August 1st, Robert Arsov sold 30,000 shares of Rumble stock. The shares were sold at an average price of $6.12, for a total transaction of $183,600.00.
• On Friday, July 5th, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.59, for a total value of $153,725.00.

Rumble Stock Performance

NASDAQ RUM opened at $5.23 on Friday. The stock has a 50 day moving average price of $5.72 and a 200-day moving average price of $6.26. Rumble Inc. has a one year low of $3.33 and a one year high of $9.20. The company has a market capitalization of $2.03 billion, a P/E ratio of -8.17 and a beta of 0.74.

Rumble (NASDAQ:RUM) last posted its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. The business had revenue of $22.47 million during the quarter, compared to the consensus estimate of $19.69 million. As a group, equities analysts predict that Rumble Inc. will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Rumble

Several large investors have recently modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new position in shares of Rumble during the second quarter valued at approximately $30,000. Coppell Advisory Solutions Corp. bought a new position in shares of Rumble during the 1st quarter worth $81,000. LexAurum Advisors LLC purchased a new position in shares of Rumble during the first quarter valued at $81,000. Bank of New York Mellon Corp purchased a new stake in Rumble in the second quarter worth about $66,000. Finally, SG Americas Securities LLC bought a new position in Rumble during the 2nd quarter worth about $67,000. Institutional investors own 26.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research report on Tuesday, August 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.