Rumble (NASDAQ:RUM) Shares Gap Down to $7.15

Rumble Inc. (NASDAQ:RUM)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $7.15, but opened at $6.94. Rumble shares last traded at $6.74, with a volume of 906,248 shares changing hands.

Wall Street Analyst Weigh In

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

Rumble Stock Performance

The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -12.54 and a beta of 0.88. The company has a fifty day moving average of $7.02 and a 200-day moving average of $5.95.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, May 14th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. The business had revenue of $17.73 million for the quarter, compared to analysts’ expectations of $18.27 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. During the same period in the previous year, the firm posted ($0.10) EPS. As a group, equities research analysts expect that Rumble Inc. will post -0.64 EPS for the current year.

Insider Activity at Rumble

In other Rumble news, insider Claudio Ramolo sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.18, for a total value of $2,154,000.00. Following the sale, the insider now owns 6,203 shares of the company’s stock, valued at $44,537.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rumble news, insider Claudio Ramolo sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.18, for a total value of $2,154,000.00. Following the sale, the insider now owns 6,203 shares of the company’s stock, valued at $44,537.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Arsov sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $7.21, for a total value of $288,400.00. Following the completion of the sale, the director now directly owns 15,423,914 shares in the company, valued at approximately $111,206,419.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,788,908 shares of company stock worth $12,537,410. Insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

A number of large investors have recently modified their holdings of RUM. Avantax Advisory Services Inc. acquired a new position in Rumble during the first quarter worth about $335,000. RIA Advisory Group LLC acquired a new position in Rumble during the 1st quarter worth $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 worth $862,000 after acquiring an additional 27,289 shares in the last quarter. SpiderRock Advisors LLC acquired a new position in Rumble during the 1st quarter worth $198,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Rumble by 1,270.0% during the 1st 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 in the last quarter. 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.