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

Rumble Inc. (NASDAQ:RUM) insider Claudio Ramolo sold 4,812,646 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 14,283 shares of the company’s stock, valued at $107,122.50. This represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rumble Price Performance

Shares of Rumble stock opened at $10.79 on Thursday. Rumble Inc. has a 1-year low of $4.92 and a 1-year high of $17.40. The company’s fifty day simple moving average is $11.41 and its 200-day simple moving average is $7.82. The stock has a market capitalization of $4.21 billion, a PE ratio of -17.13 and a beta of 0.50.

Rumble (NASDAQ:RUM) last released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $25.06 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted ($0.14) earnings per share. As a group, research analysts anticipate that Rumble Inc. will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RUM. Geode Capital Management LLC lifted its stake in Rumble by 14.5% in the 3rd 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 in the last quarter. Barclays PLC raised its holdings in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after acquiring an additional 11,784 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after acquiring an additional 24,879 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Rumble during the 3rd quarter valued at approximately $185,000. Finally, FMR LLC lifted its position in Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after purchasing an additional 20,343 shares during the last quarter. Institutional investors own 26.15% of the company’s stock.

Analyst Upgrades and Downgrades

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