Brandon Alexandroff Sells 6,828,420 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff sold 6,828,420 shares of Rumble stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $51,213,150.00. Following the sale, the chief financial officer now directly owns 64,210 shares of the company’s stock, valued at $481,575. This represents a 99.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Rumble Stock Down 3.4 %

Shares of NASDAQ RUM opened at $10.79 on Thursday. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -17.13 and a beta of 0.50. The firm’s fifty day moving average is $11.41 and its 200 day moving average is $7.82. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th. Maxim Group initiated coverage on shares of Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price on the stock.

Hedge Funds Weigh In On Rumble

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Rumble by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock valued at $103,723,000 after purchasing an additional 229,294 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in Rumble in the 4th quarter worth approximately $2,540,000. Geode Capital Management LLC lifted its position in Rumble by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after acquiring an additional 130,956 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Rumble during the 4th quarter valued at $468,000. Finally, MML Investors Services LLC purchased a new position in shares of Rumble in the third quarter worth $185,000. Hedge funds and other 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.