Rumble Inc. (NASDAQ:RUM) Short Interest Down 14.3% in April

Rumble Inc. (NASDAQ:RUM) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 12,500,000 shares, a decline of 14.3% from the March 31st total of 14,580,000 shares. Currently, 19.1% of the shares of the company are sold short. Based on an average trading volume of 6,220,000 shares, the days-to-cover ratio is presently 2.0 days.

Rumble Trading Up 1.9 %

NASDAQ:RUM opened at $7.06 on Wednesday. The firm has a market capitalization of $2.73 billion, a PE ratio of -12.39 and a beta of 0.82. The stock has a 50 day moving average of $7.02 and a 200-day moving average of $5.83. Rumble has a 52 week low of $3.33 and a 52 week high of $11.25.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The company had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. During the same period last year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that Rumble will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer reissued a “market perform” rating on shares of Rumble in a research report on Thursday, March 28th.

Insider Buying and Selling at Rumble

In other Rumble news, CTO Wojciech Hlibowicki sold 275,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.20, for a total value of $1,980,000.00. Following the completion of the transaction, the chief technology officer now directly owns 31,776 shares of the company’s stock, valued at approximately $228,787.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Wojciech Hlibowicki sold 275,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.20, for a total value of $1,980,000.00. Following the transaction, the chief technology officer now owns 31,776 shares of the company’s stock, valued at $228,787.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David O. Sacks sold 133,896 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the transaction, the director now directly owns 3,390 shares in the company, valued at $21,865.50. The disclosure for this sale can be found here. Insiders have sold 1,683,896 shares of company stock valued at $11,821,229 in the last 90 days. 72.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Rumble by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company’s stock worth $181,000 after acquiring an additional 2,581 shares in the last quarter. PFG Advisors lifted its position in Rumble by 75.4% in the 4th quarter. PFG Advisors now owns 54,771 shares of the company’s stock worth $246,000 after buying an additional 23,540 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Rumble by 69.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock valued at $557,000 after buying an additional 44,863 shares during the period. Private Advisor Group LLC grew its holdings in shares of Rumble by 39.0% during the 3rd quarter. Private Advisor Group LLC now owns 44,877 shares of the company’s stock valued at $229,000 after acquiring an additional 12,596 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of Rumble by 26.8% in the third quarter. Sigma Planning Corp now owns 24,341 shares of the company’s stock worth $124,000 after acquiring an additional 5,150 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.