Rumble Inc. (NASDAQ:RUM) Director Sells $241,850.00 in Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $6.91, for a total transaction of $241,850.00. Following the completion of the sale, the director now directly owns 15,173,902 shares in the company, valued at $104,851,662.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Arsov also recently made the following trade(s):

• On Friday, May 3rd, Robert Arsov sold 35,000 shares of Rumble stock. The stock was sold at an average price of $6.85, for a total transaction of $239,750.00.
• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The stock was sold at an average price of $6.70, for a total transaction of $234,580.40.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The stock was sold at an average price of $6.72, for a total transaction of $235,200.00.
• On Tuesday, April 2nd, Robert Arsov sold 40,000 shares of Rumble stock. The stock was sold at an average price of $7.21, for a total transaction of $288,400.00.

Rumble Stock Performance

NASDAQ RUM opened at $6.89 on Friday. Rumble Inc. has a one year low of $3.33 and a one year high of $11.25. The company’s 50 day moving average price is $7.02 and its 200 day moving average price is $5.90. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -12.09 and a beta of 0.88.

Rumble (NASDAQ:RUM) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.08. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. During the same quarter last year, the firm posted ($0.06) earnings per share. Rumble’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Rumble Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer reissued a “market perform” rating on shares of Rumble in a research report on Thursday, March 28th.

Institutional Trading of Rumble

A number of hedge funds have recently made changes to their positions in RUM. Signaturefd LLC purchased a new stake in shares of Rumble during the fourth quarter valued at approximately $32,000. Principal Securities Inc. purchased a new stake in shares of Rumble during the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC raised its stake in shares of Rumble by 1,100.0% during the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock valued at $48,000 after purchasing an additional 5,500 shares during the period. Solano Wealth Management Inc. purchased a new stake in shares of Rumble during the third quarter valued at approximately $51,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Rumble by 1,270.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock valued at $55,000 after purchasing an additional 6,350 shares during the period. Hedge funds and other institutional investors 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.