Claudio Ramolo Sells 4,812,646 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) insider Claudio Ramolo sold 4,812,646 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $36,094,845.00. Following the transaction, the insider now owns 14,283 shares in the company, valued at $107,122.50. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rumble Stock Up 4.7 %

Shares of RUM stock opened at $11.30 on Friday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -17.94 and a beta of 0.50. The company’s 50 day moving average is $11.47 and its 200 day moving average is $7.84. Rumble Inc. has a 52-week low of $4.92 and a 52-week high of $17.40.

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

Hedge Funds Weigh In On Rumble

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in Rumble by 70.9% in the fourth 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 last quarter. Steward Partners Investment Advisory LLC grew its holdings in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after purchasing an additional 980 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Rumble in the fourth quarter worth $78,000. Jones Financial Companies Lllp grew its holdings in Rumble by 423.1% in the fourth quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock worth $104,000 after purchasing an additional 6,473 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Rumble during the fourth quarter worth $130,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RUM has been the topic of a number of analyst reports. Maxim Group initiated coverage on shares of Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective on the stock. Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Wednesday, November 13th.

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.