Stock Traders Purchase Large Volume of Call Options on Rumble (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of some unusual options trading activity on Monday. Traders acquired 26,143 call options on the company. This is an increase of approximately 182% compared to the average daily volume of 9,260 call options.

Insider Activity

In other Rumble news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total value of $140,800.00. Following the completion of the sale, the director now owns 12,659,837 shares in the company, valued at $64,818,365.44. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 169,988 shares of company stock valued at $986,517 over the last 90 days. Insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RUM. SG Americas Securities LLC acquired a new stake in Rumble in the 2nd quarter valued at $67,000. Bank of New York Mellon Corp purchased a new position in Rumble in the second quarter valued at about $66,000. Cambridge Investment Research Advisors Inc. grew its stake in Rumble by 5.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after purchasing an additional 8,824 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rumble during the 2nd quarter worth approximately $142,000. Finally, Solano Wealth Management Inc. purchased a new stake in Rumble during the 2nd quarter worth approximately $83,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

Rumble Stock Performance

Shares of RUM traded up $4.21 during trading hours on Monday, hitting $11.40. The stock had a trading volume of 20,382,754 shares, compared to its average volume of 3,227,088. Rumble has a 12-month low of $3.33 and a 12-month high of $12.74. The firm has a market cap of $4.44 billion, a P/E ratio of -18.10 and a beta of 0.81. The company’s fifty day simple moving average is $6.61 and its 200 day simple moving average is $6.08.

Rumble (NASDAQ:RUM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $25.06 million for the quarter, compared to analyst estimates 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 earned ($0.14) earnings per share. As a group, sell-side analysts predict that Rumble will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th.

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.