Rumble (NASDAQ:RUM) Shares Down 3%

Rumble Inc. (NASDAQ:RUM) shares dropped 3% during mid-day trading on Tuesday . The stock traded as low as $5.59 and last traded at $5.59. Approximately 107,758 shares traded hands during trading, a decline of 97% from the average daily volume of 4,024,714 shares. The stock had previously closed at $5.76.

Analyst Upgrades and Downgrades

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

Rumble Stock Performance

The company’s fifty day moving average is $6.40 and its 200-day moving average is $6.29. The company has a market capitalization of $2.14 billion, a PE ratio of -8.81 and a beta of 0.77.

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

Insider Buying and Selling at Rumble

In related news, Director Robert Arsov sold 30,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $6.11, for a total value of $183,300.00. Following the completion of the transaction, the director now directly owns 15,143,902 shares of the company’s stock, valued at $92,529,241.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert Arsov sold 30,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $6.11, for a total value of $183,300.00. Following the completion of the sale, the director now directly owns 15,143,902 shares in the company, valued at $92,529,241.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David O. Sacks sold 133,896 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $6.45, for a total value of $863,629.20. Following the completion of the sale, the director now owns 3,390 shares of the company’s stock, valued at $21,865.50. The disclosure for this sale can be found here. Insiders sold a total of 333,908 shares of company stock valued at $2,180,110 in the last three months. 72.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rumble

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC purchased a new position in Rumble in the fourth quarter valued at about $32,000. Principal Securities Inc. purchased a new position in Rumble in the fourth quarter valued at about $32,000. Global Retirement Partners LLC grew 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 valued at $48,000 after purchasing an additional 5,500 shares during the last quarter. Newbridge Financial Services Group Inc. grew 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 valued at $55,000 after purchasing an additional 6,350 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Rumble in the fourth quarter valued at about $80,000. 26.15% of the stock is currently owned by institutional investors.

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.