Brandon Alexandroff Sells 6,828,420 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff sold 6,828,420 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $51,213,150.00. Following the completion of the sale, the chief financial officer now owns 64,210 shares of the company’s stock, valued at $481,575. The trade was a 99.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rumble Stock Down 8.8 %

Shares of NASDAQ:RUM traded down $1.08 during midday trading on Tuesday, reaching $11.17. The company’s stock had a trading volume of 3,345,675 shares, compared to its average volume of 4,398,688. The firm has a market capitalization of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50. The stock has a fifty day moving average of $11.32 and a 200 day moving average of $7.78. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. During the same period last year, the firm earned ($0.14) earnings per share. Sell-side analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Rumble

Several institutional investors have recently modified their holdings of RUM. IFP Advisors Inc grew its stake in shares of Rumble by 70.9% during the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Rumble by 50.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after buying an additional 980 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Rumble by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock valued at $174,000 after purchasing an additional 1,510 shares during the period. Sigma Planning Corp increased its stake in shares of Rumble by 17.8% in the fourth quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock worth $343,000 after buying an additional 3,985 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rumble by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after purchasing an additional 5,348 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group began coverage on shares of Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 target price on the 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.