Rumble (NASDAQ:RUM) Trading Down 5.3% – What’s Next?

Shares of Rumble Inc. (NASDAQ:RUM) were down 5.3% during mid-day trading on Monday . The stock traded as low as $12.08 and last traded at $12.08. Approximately 5,359,665 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 4,314,232 shares. The stock had previously closed at $12.75.

Analyst Ratings Changes

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

Rumble Stock Down 3.4 %

The stock has a fifty day moving average of $11.41 and a 200-day moving average of $7.82. The firm has a market capitalization of $4.21 billion, a P/E ratio of -17.13 and a beta of 0.50.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results 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). The company had revenue of $25.06 million during the quarter, compared to analyst estimates 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 period in the prior year, the business earned ($0.14) EPS. As a group, analysts forecast that Rumble Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Rumble

In other Rumble news, Director Ryan Milnes sold 24,978,210 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $187,336,575.00. Following the sale, the director now directly owns 57,290 shares in the company, valued at approximately $429,675. This trade represents a 99.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher Pavlovski sold 354,849 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the completion of the sale, the chief executive officer now owns 522,927 shares of the company’s stock, valued at approximately $3,921,952.50. This represents a 40.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,134,005 shares of company stock worth $308,487,045. Company insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of 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 buying an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of 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 purchasing an additional 980 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Rumble during the 3rd quarter worth approximately $70,000. Barclays PLC boosted its holdings in shares of Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Rumble in the fourth quarter valued at $78,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

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.