Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 12,400,000 shares, a growth of 24.6% from the February 13th total of 9,950,000 shares. Based on an average daily trading volume, of 6,410,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 6.6% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Maxim Group began coverage on Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target for the company.

Rumble Stock Performance

RUM stock opened at $7.69 on Wednesday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -12.21 and a beta of 0.56. Rumble has a fifty-two week low of $4.92 and a fifty-two week high of $17.38. The stock has a fifty day moving average of $10.80 and a 200-day moving average of $8.41.

Insider Activity at Rumble

In other news, Director Ryan Milnes sold 24,978,210 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $187,336,575.00. Following the completion of the sale, the director now directly owns 57,290 shares of the company’s stock, valued at $429,675. This trade represents a 99.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Wojciech Hlibowicki sold 3,817,165 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $28,628,737.50. Following the sale, the chief technology officer now directly owns 4,592 shares of the company’s stock, valued at approximately $34,440. This represents a 99.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,104,017 shares of company stock valued at $308,280,128. 70.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Rumble by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock worth $103,723,000 after acquiring an additional 229,294 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Rumble by 9,234.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,351,803 shares of the company’s stock worth $17,587,000 after acquiring an additional 1,337,321 shares during the period. Geode Capital Management LLC grew its stake in shares of Rumble by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company’s stock worth $13,550,000 after acquiring an additional 5,326 shares during the period. Millennium Management LLC boosted its stake in Rumble by 287.7% in the 4th quarter. Millennium Management LLC now owns 781,747 shares of the company’s stock worth $10,171,000 after purchasing an additional 580,105 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Rumble by 2.8% in the 4th quarter. Ameriprise Financial Inc. now owns 638,316 shares of the company’s stock worth $8,304,000 after purchasing an additional 17,100 shares during the period. Institutional investors own 26.15% of the company’s stock.

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.