Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes Sells 24,978,210 Shares

Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes sold 24,978,210 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $187,336,575.00. Following the sale, the director now directly owns 57,290 shares in the company, valued at approximately $429,675. This represents a 99.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rumble Price Performance

Shares of RUM opened at $10.79 on Thursday. Rumble Inc. has a 12 month low of $4.92 and a 12 month high of $17.40. The stock has a fifty day moving average price of $11.41 and a 200 day moving average price of $7.82. The company has a market cap of $4.21 billion, a P/E ratio of -17.13 and a beta of 0.50.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results 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 firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same period last year, the firm posted ($0.14) EPS. As a group, research analysts anticipate that Rumble Inc. will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th. Maxim Group initiated coverage on shares of Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RUM. IFP Advisors Inc grew its stake in shares of 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 in the last quarter. Steward Partners Investment Advisory LLC increased 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 purchasing an additional 980 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Rumble by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock worth $174,000 after buying an additional 1,510 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Rumble by 17.8% in the fourth quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock valued at $343,000 after buying an additional 3,985 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Rumble by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company’s stock valued at $13,550,000 after buying an additional 5,326 shares in the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

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.