Sen. David McCormick Sells Shares of Rumble Inc. (NASDAQ:RUM)

Senator David McCormick (R-Pennsylvania) recently sold shares of Rumble Inc. (NASDAQ:RUM). In a filing disclosed on February 09th, the Senator disclosed that they had sold between $1,000,001 and $5,000,000 in Rumble stock on January 16th.

Rumble Trading Down 3.9 %

Shares of NASDAQ RUM opened at $12.25 on Tuesday. Rumble Inc. has a 12-month low of $4.92 and a 12-month high of $17.40. The stock has a fifty day moving average price of $11.22 and a 200 day moving average price of $7.74.

Rumble (NASDAQ:RUM) last released its 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). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter last year, the company posted ($0.14) earnings per share. On average, equities analysts expect that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rumble

A number of large investors have recently made changes to their positions in RUM. IFP Advisors Inc boosted its position in Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after purchasing an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after purchasing an additional 980 shares during the last quarter. Virtu Financial LLC bought a new stake in Rumble in the 3rd quarter valued at $70,000. Barclays PLC grew its position in Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Rumble during the 4th quarter worth about $78,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Insider Activity at Rumble

In related news, Director Robert Arsov sold 29,988 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.90, for a total value of $206,917.20. Following the sale, the director now owns 12,487,349 shares of the company’s stock, valued at $86,162,708.10. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 70.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on RUM. Maxim Group assumed coverage on Rumble in a report on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price for the company. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th.

About Senator McCormick

David McCormick (Republican Party) is a member of the U.S. Senate from Pennsylvania. He assumed office on January 3, 2025. His current term ends on January 3, 2031.

McCormick (Republican Party) ran for election to the U.S. Senate to represent Pennsylvania. He won in the general election on November 5, 2024.

David McCormick was born in Washington, Pennsylvania, and lives in Pennsylvania. He served in the U.S. Army 82nd Airborne Division as a paratrooper, during which time he was deployed to the Middle East during the First Gulf War and reached the rank of Captain. McCormick received his bachelor’s degree in mechanical engineering from the United States Military Academy at West Point and his Ph.D. in international affairs from Princeton University. His professional experience includes working as the CEO of a tech startup and of Bridgewater Associates, an investment management firm, and under secretary in both the Department of Commerce and the Department of the Treasury.

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.