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 that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $187,336,575.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rumble Stock Performance

Shares of NASDAQ RUM opened at $11.30 on Friday. The stock has a fifty day moving average price of $11.47 and a two-hundred day moving average price of $7.84. The firm has a market cap of $4.40 billion, a P/E ratio of -17.94 and a beta of 0.50. Rumble Inc. has a 1 year low of $4.92 and a 1 year high of $17.40.

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 firm had revenue of $25.06 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business posted ($0.14) earnings per share. On average, research analysts predict that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of Rumble by 70.9% during the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock valued at $26,000 after acquiring an additional 830 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position 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 acquiring an additional 980 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Rumble during the 4th quarter valued at $78,000. Jones Financial Companies Lllp lifted its position in shares of Rumble by 423.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,003 shares of the company’s stock valued at $104,000 after acquiring an additional 6,473 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Rumble during the 4th quarter valued at $130,000. 26.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Maxim Group assumed coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company. Wedbush reissued a “neutral” rating and issued a $8.00 price objective 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.