Insider Selling: Rumble Inc. (NASDAQ:RUM) Director Sells $144,100.00 in Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $5.24, for a total transaction of $144,100.00. Following the completion of the transaction, the director now directly owns 12,714,837 shares in the company, valued at $66,625,745.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 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.
• 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 value of $153,175.00.
• On Monday, August 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.87, for a total value of $161,425.00.
• On Thursday, August 1st, Robert Arsov sold 30,000 shares of Rumble stock. The stock was sold at an average price of $6.12, for a total value of $183,600.00.
• On Friday, July 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.59, for a total value of $153,725.00.

Rumble Stock Up 3.8 %

Rumble stock opened at $5.43 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of -8.48 and a beta of 0.74. The company’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $6.23. Rumble Inc. has a 52 week low of $3.33 and a 52 week high of $9.20.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). The business had revenue of $22.47 million for the quarter, compared to the consensus estimate of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. On average, equities analysts anticipate that Rumble Inc. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in RUM. Redwood Wealth Management Group LLC purchased a new stake in Rumble during the second quarter worth about $30,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Rumble during the 1st quarter worth approximately $81,000. LexAurum Advisors LLC bought a new stake in shares of Rumble in the 1st quarter worth approximately $81,000. Bank of New York Mellon Corp bought a new stake in shares of Rumble in the 2nd quarter worth approximately $66,000. Finally, SG Americas Securities LLC purchased a new position in Rumble in the second quarter valued at approximately $67,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.