Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes Sells 312,727 Shares

Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes sold 312,727 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $2,345,452.50. Following the completion of the transaction, the chief operating officer now owns 65,127 shares of the company’s stock, valued at approximately $488,452.50. The trade was a 82.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rumble Stock Down 8.8 %

Shares of RUM traded down $1.08 during mid-day trading on Tuesday, reaching $11.17. The company had a trading volume of 3,345,675 shares, compared to its average volume of 4,398,688. The stock has a market capitalization of $4.35 billion, a P/E ratio of -17.73 and a beta of 0.50. Rumble Inc. has a 52-week low of $4.92 and a 52-week high of $17.40. The stock has a 50 day moving average of $11.32 and a two-hundred day moving average of $7.78.

Rumble (NASDAQ:RUM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $25.06 million during 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 quarter in the prior year, the company posted ($0.14) EPS. On average, sell-side analysts expect that Rumble Inc. will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Rumble

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in Rumble by 70.9% in the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after buying an additional 830 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after acquiring an additional 980 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Rumble in the 4th quarter valued at about $78,000. Jones Financial Companies Lllp raised its holdings in Rumble by 423.1% in the 4th 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 period. Finally, Stonegate Investment Group LLC acquired a new position in Rumble in the 4th quarter worth about $130,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

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.