Rumble Inc. (NASDAQ:RUM) Director Sells $187,336,575.00 in Stock

Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes sold 24,978,210 shares of the stock in a transaction 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 completion of the sale, the director now owns 57,290 shares of the company’s stock, valued at $429,675. The trade was a 99.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rumble Trading Up 4.7 %

Shares of NASDAQ:RUM opened at $11.30 on Friday. Rumble Inc. has a 1 year low of $4.92 and a 1 year high of $17.40. The business has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $7.84. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -17.94 and a beta of 0.50.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data 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 return on equity of 62.75% and a negative net margin of 152.81%. The firm had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $29.25 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. On average, sell-side analysts forecast that Rumble Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Rumble

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Rumble by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock valued at $103,723,000 after purchasing an additional 229,294 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rumble by 0.5% in 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 during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Rumble by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company’s stock valued at $6,411,000 after buying an additional 14,476 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Rumble in the fourth quarter valued at about $2,540,000. Finally, LPL Financial LLC lifted its stake in shares of Rumble by 18.9% in the fourth quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after buying an additional 17,391 shares during the period. 26.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RUM. Maxim Group began coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price for the company. 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.