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 Rumble 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 transaction, the director now directly owns 15,173,902 shares in the company, valued at approximately $104,851,662.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, May 3rd, Robert Arsov sold 35,000 shares of Rumble stock. The stock was 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 transaction of $234,580.40.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The stock was 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 transaction of $288,400.00.

Rumble Stock Performance

Rumble stock traded up $0.10 during mid-day trading on Tuesday, reaching $6.98. The company’s stock had a trading volume of 418,032 shares, compared to its average volume of 5,219,177. Rumble Inc. has a 12-month low of $3.33 and a 12-month high of $11.25. The company has a market capitalization of $2.69 billion, a P/E ratio of -12.07 and a beta of 0.88. The firm’s fifty day moving average price is $7.01 and its two-hundred day moving average price is $5.88.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $20.39 million during the quarter, compared to analyst estimates of $28.13 million. During the same period in the previous year, the business earned ($0.06) EPS. Rumble’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Rumble Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Rumble

A number of hedge funds have recently made changes to their positions in the stock. RIA Advisory Group LLC bought a new stake in shares of Rumble during the 1st quarter worth $190,000. Janney Montgomery Scott LLC lifted its stake in Rumble by 34.4% in the first quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock worth $862,000 after purchasing an additional 27,289 shares during the last quarter. SpiderRock Advisors LLC bought a new stake in Rumble in the first quarter worth $198,000. Newbridge Financial Services Group Inc. lifted its stake in Rumble by 1,270.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after purchasing an additional 6,350 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Rumble by 1,100.0% in the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after purchasing an additional 5,500 shares during the last quarter. 26.15% of the stock is owned by institutional investors.

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.