Rumble Inc. (NASDAQ:RUM – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $5.85, but opened at $6.20. Rumble shares last traded at $6.24, with a volume of 1,622,005 shares changing hands.
Analysts Set New Price Targets
Separately, Wedbush reissued a “neutral” rating and issued a $8.00 target price on shares of Rumble in a report on Tuesday, August 13th.
Rumble Trading Down 1.8 %
Rumble (NASDAQ:RUM – Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The business had revenue of $22.47 million during the quarter, compared to analyst estimates of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. As a group, equities analysts predict that Rumble Inc. will post -0.55 EPS for the current fiscal year.
Insider Transactions at Rumble
In other news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total value of $140,800.00. Following the transaction, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 167,500 shares of company stock valued at $936,825 in the last three months. 72.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. TCP Asset Management LLC lifted its holdings in Rumble by 21.3% during the 1st quarter. TCP Asset Management LLC now owns 28,520 shares of the company’s stock worth $230,000 after buying an additional 5,000 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of Rumble during the 2nd quarter valued at $30,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Rumble by 5.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after acquiring an additional 8,824 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Rumble during the 1st quarter valued at $81,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Rumble during the 2nd quarter valued at $66,000. Institutional investors and hedge funds 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.
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