Rumble Inc. (NASDAQ:RUM) Insider Claudio Ramolo Sells 4,812,646 Shares

Rumble Inc. (NASDAQ:RUM) insider Claudio Ramolo sold 4,812,646 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $36,094,845.00. Following the sale, the insider now directly owns 14,283 shares of the company’s stock, valued at $107,122.50. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rumble Stock Performance

Rumble stock traded down $1.08 during mid-day trading on Tuesday, reaching $11.17. 3,345,675 shares of the company were exchanged, compared to its average volume of 4,398,688. The firm’s 50-day simple moving average is $11.32 and its two-hundred day simple moving average is $7.78. The firm has a market cap of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, equities research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RUM shares. Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research report on Wednesday, November 13th. Maxim Group started coverage on Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective for the company.

Institutional Trading of Rumble

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Rumble by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock worth $103,723,000 after purchasing an additional 229,294 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rumble by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company’s stock worth $6,411,000 after purchasing an additional 14,476 shares during the last quarter. LPL Financial LLC raised its holdings in Rumble by 18.9% during the fourth quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock worth $1,423,000 after purchasing an additional 17,391 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Rumble during the fourth quarter worth $468,000. 26.15% of the stock is owned by institutional investors and hedge funds.

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.