Rumble (NASDAQ:RUM) Shares Down 3%

Rumble Inc. (NASDAQ:RUM)’s share price was down 3% during mid-day trading on Tuesday . The stock traded as low as $5.59 and last traded at $5.59. Approximately 107,758 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 4,024,714 shares. The stock had previously closed at $5.76.

Analysts Set New Price Targets

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

Rumble Price Performance

The stock’s 50 day moving average is $6.36 and its two-hundred day moving average is $6.30. The firm has a market capitalization of $2.23 billion, a P/E ratio of -8.98 and a beta of 0.77.

Rumble (NASDAQ:RUM) last released its earnings results on Tuesday, May 14th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $17.73 million during the quarter, compared to analyst estimates of $18.27 million. Rumble had a negative net margin of 161.62% and a negative return on equity of 46.51%. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, equities research analysts expect that Rumble Inc. will post -0.58 EPS for the current year.

Insider Activity at Rumble

In related news, Director David O. Sacks sold 133,896 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the sale, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rumble news, Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.91, for a total transaction of $241,850.00. Following the transaction, the director now directly owns 15,173,902 shares in the company, valued at $104,851,662.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David O. Sacks sold 133,896 shares of the business’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 completion of the transaction, the director now directly owns 3,390 shares of the company’s stock, valued at $21,865.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,908 shares of company stock worth $2,257,585. 72.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Rumble

Several institutional investors have recently modified their holdings of the business. Empirical Capital Management LLC acquired a new stake in Rumble during the 1st quarter worth approximately $1,584,000. HighPoint Advisor Group LLC bought a new stake in Rumble in the 4th quarter valued at $499,000. Janney Montgomery Scott LLC lifted its position in Rumble by 34.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock valued at $862,000 after acquiring an additional 27,289 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rumble by 15.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,025 shares of the company’s stock worth $252,000 after purchasing an additional 7,647 shares during the period. Finally, PFG Advisors increased its holdings in Rumble by 75.4% during the 4th quarter. PFG Advisors now owns 54,771 shares of the company’s stock worth $246,000 after purchasing an additional 23,540 shares in the last quarter. Institutional investors own 26.15% of the company’s stock.

Rumble Company Profile

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.