Rumble Inc. (NASDAQ:RUM) Director Robert Arsov Sells 27,500 Shares

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total value of $140,800.00. Following the sale, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Robert Arsov also recently made the following trade(s):

• On Tuesday, October 1st, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.24, for a total value of $144,100.00.
• On Thursday, September 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.59, for a total value of $153,725.00.
• On Tuesday, September 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.57, for a total transaction of $153,175.00.
• On Monday, August 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.87, for a total transaction of $161,425.00.
• On Thursday, August 1st, Robert Arsov sold 30,000 shares of Rumble stock. The stock was sold at an average price of $6.12, for a total transaction of $183,600.00.
• On Friday, July 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.59, for a total transaction of $153,725.00.

Rumble Price Performance

Shares of RUM stock traded up $0.05 during trading hours on Thursday, hitting $5.23. The stock had a trading volume of 737,129 shares, compared to its average volume of 3,087,122. The firm has a market capitalization of $2.03 billion, a PE ratio of -8.17 and a beta of 0.75. The stock’s 50 day moving average is $5.74 and its 200 day moving average is $6.27. Rumble Inc. has a twelve month low of $3.33 and a twelve month high of $9.20.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The business had revenue of $22.47 million for the quarter, compared to analysts’ expectations of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. As a group, equities analysts predict that Rumble Inc. will post -0.55 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and issued a $8.00 target price on shares of Rumble in a report on Tuesday, August 13th.

Hedge Funds Weigh In On Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in RUM. Total Clarity Wealth Management Inc. purchased a new stake in Rumble during the 2nd quarter valued at approximately $161,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Rumble during the second quarter worth approximately $30,000. Arizona State Retirement System acquired a new stake in shares of Rumble during the second quarter worth $91,000. Solano Wealth Management Inc. acquired a new stake in shares of Rumble during the second quarter worth $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Rumble in the 2nd quarter valued at $142,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

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.