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

Rumble Inc. (NASDAQ:RUM) insider Claudio Ramolo sold 4,812,646 shares of Rumble stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $36,094,845.00. Following the completion of the transaction, the insider now directly owns 14,283 shares in the company, valued at $107,122.50. This represents a 99.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Rumble Price Performance

NASDAQ:RUM opened at $11.17 on Wednesday. Rumble Inc. has a fifty-two week low of $4.92 and a fifty-two week high of $17.40. The stock’s 50-day moving average is $11.32 and its two-hundred day moving average is $7.78. The stock has a market cap of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Rumble

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Rumble by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after buying an additional 130,956 shares during the last quarter. Barclays PLC lifted its holdings in shares of Rumble by 663.9% during the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after buying an additional 11,784 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after buying an additional 24,879 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Rumble during the 3rd quarter valued at about $185,000. Finally, FMR LLC lifted its holdings in shares of Rumble by 995.3% during the 3rd quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after buying an additional 20,343 shares during the last quarter. 26.15% of the stock is currently 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.