Investors Purchase High Volume of Rumble Call Options (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the recipient of unusually large options trading activity on Friday. Stock investors bought 21,555 call options on the company. This is an increase of approximately 160% compared to the typical daily volume of 8,292 call options.

Analyst Upgrades and Downgrades

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

Rumble Stock Performance

RUM traded up $1.42 during trading on Friday, reaching $8.40. 7,287,520 shares of the company’s stock were exchanged, compared to its average volume of 3,147,963. The company’s fifty day moving average price is $6.02 and its 200-day moving average price is $5.99. The firm has a market capitalization of $3.27 billion, a PE ratio of -12.49 and a beta of 0.81. Rumble has a fifty-two week low of $3.33 and a fifty-two week high of $9.20.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same period last year, the firm earned ($0.14) earnings per share. Research analysts forecast that Rumble will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total transaction of $140,800.00. Following the transaction, the director now owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 169,988 shares of company stock valued at $986,517 in the last 90 days. 72.90% of the stock is currently owned by insiders.

Institutional Trading of Rumble

A number of hedge funds have recently modified their holdings of RUM. Virtu Financial LLC bought a new stake in shares of Rumble in the 3rd quarter valued at $70,000. Barclays PLC grew its stake in Rumble by 663.9% in the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares during the period. Geode Capital Management LLC increased its holdings in shares of Rumble by 14.5% in the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after acquiring an additional 130,956 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Rumble in the third quarter worth about $185,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Rumble during the third quarter worth about $184,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.