Rumble Inc. (NASDAQ:RUM) Director Robert Arsov Sells 29,988 Shares

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.90, for a total value of $206,917.20. Following the sale, the director now owns 12,487,349 shares in the company, valued at $86,162,708.10. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, November 6th, Robert Arsov sold 30,000 shares of Rumble stock. The shares were sold at an average price of $5.93, for a total transaction of $177,900.00.
• On Monday, November 4th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.69, for a total value of $156,475.00.
• On Friday, November 1st, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.83, for a total value of $160,325.00.
• On Thursday, October 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.12, for a total transaction of $140,800.00.
• On Tuesday, October 1st, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.24, for a total transaction of $144,100.00.
• 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 transaction of $153,725.00.

Rumble Price Performance

Shares of NASDAQ RUM traded up $0.23 during trading on Tuesday, hitting $7.11. The company had a trading volume of 2,581,753 shares, compared to its average volume of 3,129,843. Rumble Inc. has a 52 week low of $3.33 and a 52 week high of $9.20. The business’s 50-day moving average is $5.91 and its 200 day moving average is $5.97.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. On average, research analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and set a $8.00 price target on shares of Rumble in a report on Wednesday, November 13th.

Institutional Trading of Rumble

Several hedge funds and other institutional investors have recently modified their holdings of RUM. Redwood Wealth Management Group LLC acquired a new position in Rumble during the second quarter valued at $30,000. Bank of New York Mellon Corp purchased a new position in Rumble during the 2nd quarter valued at about $66,000. SG Americas Securities LLC acquired a new position in shares of Rumble in the 2nd quarter valued at about $67,000. Virtu Financial LLC purchased a new stake in shares of Rumble in the third quarter worth approximately $70,000. Finally, Barclays PLC boosted its holdings in shares of Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares during the period. Institutional investors and hedge funds own 26.15% of the company’s stock.

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.