Rumble Sees Unusually High Options Volume (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the recipient of unusually large options trading on Monday. Traders acquired 15,602 call options on the stock. This represents an increase of 174% compared to the typical volume of 5,704 call options.

Insider Buying and Selling

In other news, major shareholder Tether Global Investments Fund acquired 44,355 shares of Rumble stock in a transaction dated Friday, February 6th. The stock was acquired at an average cost of $5.48 per share, for a total transaction of $243,065.40. Following the completion of the purchase, the insider owned 105,174,015 shares of the company’s stock, valued at $576,353,602.20. This represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Holdings S.A. De C.V. Tether acquired 270,478 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average cost of $5.46 per share, with a total value of $1,476,809.88. Following the completion of the acquisition, the insider owned 104,397,003 shares in the company, valued at $570,007,636.38. This trade represents a 0.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 1,840,682 shares of company stock valued at $9,991,142 in the last ninety days. Company insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Rumble by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,934,542 shares of the company’s stock worth $64,686,000 after buying an additional 122,788 shares during the period. Geode Capital Management LLC raised its stake in Rumble by 57.3% during the second quarter. Geode Capital Management LLC now owns 2,373,070 shares of the company’s stock worth $21,313,000 after acquiring an additional 864,677 shares in the last quarter. UBS Group AG lifted its holdings in shares of Rumble by 4.6% during the third quarter. UBS Group AG now owns 1,064,072 shares of the company’s stock valued at $7,704,000 after acquiring an additional 46,925 shares during the period. Bank of America Corp DE boosted its stake in shares of Rumble by 0.4% in the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company’s stock valued at $5,725,000 after purchasing an additional 2,678 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Rumble by 45.0% in the 3rd quarter. First Trust Advisors LP now owns 222,372 shares of the company’s stock worth $1,610,000 after purchasing an additional 68,986 shares during the last quarter. Institutional investors and hedge funds own 26.15% of the company’s stock.

Rumble Stock Up 8.9%

NASDAQ RUM traded up $0.52 during midday trading on Monday, hitting $6.30. The company had a trading volume of 1,486,861 shares, compared to its average volume of 1,965,676. The firm has a fifty day simple moving average of $6.49 and a two-hundred day simple moving average of $7.03. Rumble has a fifty-two week low of $5.11 and a fifty-two week high of $13.43. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -4.69 and a beta of 0.69.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Rumble in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $8.00.

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.