Stock Traders Purchase Large Volume of Rumble Call Options (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of unusually large options trading activity on Monday. Stock investors bought 15,602 call options on the stock. This is an increase of approximately 174% compared to the average volume of 5,704 call options.

Insider Transactions at Rumble

In other news, major shareholder Tether Global Investments Fund acquired 538,955 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average cost of $5.41 per share, with a total value of $2,915,746.55. Following the completion of the acquisition, the insider directly owned 105,129,660 shares in the company, valued at $568,751,460.60. This represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings S.A. De C.V. Tether acquired 440,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average price of $5.38 per share, for a total transaction of $2,367,200.00. Following the purchase, the insider directly owned 104,126,525 shares of the company’s stock, valued at $560,200,704.50. This represents a 0.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 1,840,682 shares of company stock valued at $9,991,142 over the last quarter. Insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

A number of institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in shares of Rumble during the 3rd quarter worth $28,000. Mather Group LLC. acquired a new position in Rumble during the third quarter worth $43,000. CWM LLC raised its holdings in Rumble by 41.9% during the second quarter. CWM LLC now owns 6,238 shares of the company’s stock valued at $56,000 after buying an additional 1,843 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Rumble in the second quarter worth about $72,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Rumble during the 3rd quarter worth about $72,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Rumble in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.00.

Rumble Stock Up 8.9%

Shares of RUM traded up $0.52 during mid-day trading on Monday, reaching $6.30. The company’s stock had a trading volume of 1,486,861 shares, compared to its average volume of 1,965,676. Rumble has a 1 year low of $5.11 and a 1 year high of $13.43. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -4.69 and a beta of 0.69. The business has a fifty day moving average of $6.49 and a 200 day moving average of $7.03.

Rumble (NASDAQ:RUM) last issued its earnings results on Monday, November 10th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $24.76 million during the quarter, compared to analyst estimates of $26.86 million. Rumble had a negative net margin of 275.47% and a negative return on equity of 78.52%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Rumble will post -0.62 earnings per share for the current year.

Rumble Company Profile

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.