Insider Selling: Rumble Inc. (NASDAQ:RUM) Director 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 Friday, November 1st. The shares were sold at an average price of $5.83, for a total transaction of $160,325.00. Following the transaction, the director now owns 12,604,837 shares of the company’s stock, valued at approximately $73,486,199.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 stock was sold at an average price of $5.69, for a total transaction of $156,475.00.
• 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 stock was 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 stock was sold at an average price of $5.59, for a total transaction 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.

Rumble Stock Down 1.4 %

Shares of Rumble stock opened at $5.73 on Friday. Rumble Inc. has a twelve month low of $3.33 and a twelve month high of $9.20. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -9.24 and a beta of 0.72. The company’s fifty day moving average is $5.54 and its 200 day moving average is $6.02.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 anticipate that Rumble Inc. will post -0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and set a $8.00 price target on shares of Rumble in a report on Tuesday, August 13th.

Institutional Trading of Rumble

Several institutional investors have recently modified their holdings of RUM. Empirical Capital Management LLC bought a new stake in Rumble during the first quarter valued at $1,584,000. Cambridge Investment Research Advisors Inc. boosted its position in Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after acquiring an additional 8,824 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Rumble by 34.4% during the first quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock valued at $862,000 after acquiring an additional 27,289 shares during the last quarter. Virtu Financial LLC bought a new stake in Rumble during the first quarter valued at $339,000. Finally, Avantax Advisory Services Inc. bought a new stake in Rumble during the first quarter valued at $335,000. Institutional investors 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.