Wojciech Hlibowicki Sells 3,817,165 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) CTO Wojciech Hlibowicki sold 3,817,165 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $34,440. The trade was a 99.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rumble Price Performance

Shares of NASDAQ:RUM opened at $10.79 on Thursday. The business’s 50-day moving average is $11.41 and its 200 day moving average is $7.82. Rumble Inc. has a 1 year low of $4.92 and a 1 year high of $17.40. The firm has a market capitalization of $4.21 billion, a P/E ratio of -17.13 and a beta of 0.50.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $25.06 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted ($0.14) EPS. On average, analysts expect that Rumble Inc. will post -0.62 EPS for the current year.

Institutional Trading of Rumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Rumble by 70.9% during the fourth quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Rumble by 50.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after buying an additional 980 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Rumble in the third quarter worth about $70,000. Barclays PLC raised its position in Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Rumble during the 4th quarter valued at approximately $78,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

Analyst Ratings Changes

RUM has been the subject of several analyst reports. Maxim Group started coverage on shares of Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target for the company. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a research 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.