Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes Sells 24,978,210 Shares

Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes sold 24,978,210 shares of the company’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 $187,336,575.00. Following the sale, the director now owns 57,290 shares of the company’s stock, valued at $429,675. The trade was a 99.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rumble Stock Down 8.8 %

NASDAQ RUM opened at $11.17 on Wednesday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -17.73 and a beta of 0.50. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The stock has a fifty day simple moving average of $11.32 and a 200 day simple moving average of $7.78.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Research analysts expect that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Rumble

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in Rumble by 70.9% during the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after acquiring an additional 830 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after acquiring an additional 980 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Rumble by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock worth $174,000 after purchasing an additional 1,510 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Rumble by 17.8% during the 4th quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock worth $343,000 after purchasing an additional 3,985 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rumble by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock worth $166,000 after purchasing an additional 5,348 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.