Rumble Inc. (NASDAQ:RUM) Director Sells $239,750.00 in Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.85, for a total transaction of $239,750.00. Following the completion of the transaction, the director now directly owns 15,208,902 shares in the company, valued at $104,180,978.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The shares were 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 shares were sold at an average price of $7.21, for a total value of $288,400.00.

Rumble Price Performance

RUM stock opened at $6.98 on Friday. Rumble Inc. has a 52 week low of $3.33 and a 52 week high of $11.25. The company’s 50-day moving average price is $7.00 and its 200 day moving average price is $5.84.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.08. The firm had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. Rumble’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, research analysts expect that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rumble

Several institutional investors and hedge funds have recently made changes to their positions in RUM. RIA Advisory Group LLC purchased a new position in shares of Rumble during the 1st quarter worth approximately $190,000. Janney Montgomery Scott LLC grew its holdings in Rumble by 34.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock valued at $862,000 after buying an additional 27,289 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in Rumble during the first quarter worth $198,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Rumble by 1,270.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after acquiring an additional 6,350 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Rumble by 1,100.0% in the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after acquiring an additional 5,500 shares during the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.