Rumble (NASDAQ:RUM) Shares Gap Down on Insider Selling

Rumble Inc. (NASDAQ:RUM) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $6.98, but opened at $6.83. Rumble shares last traded at $6.82, with a volume of 190,047 shares.

Specifically, CTO Wojciech Hlibowicki sold 275,000 shares of the firm’s 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 completion of the sale, the chief technology officer now directly owns 31,776 shares in the company, valued at $228,787.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Wojciech Hlibowicki sold 275,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $228,787.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brandon Alexandroff sold 900,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.00, for a total value of $6,300,000.00. Following the completion of the transaction, the chief financial officer now owns 31,776 shares in the company, valued at approximately $222,432. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,753,908 shares of company stock worth $12,295,560. 72.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Rumble Trading Down 1.4 %

The firm has a market cap of $2.66 billion, a P/E ratio of -12.07 and a beta of 0.88. The company has a fifty day moving average price of $7.01 and a two-hundred day moving average price of $5.88.

Rumble (NASDAQ:RUM) last announced its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share (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 business had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. During the same quarter last year, the firm earned ($0.06) EPS. Rumble’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Rumble Inc. will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC bought a new position in shares of Rumble during the 4th quarter worth approximately $32,000. Bank of New York Mellon Corp boosted 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 valued at $181,000 after purchasing an additional 2,581 shares during the period. PFG Advisors lifted its position in shares of Rumble by 75.4% during the 4th quarter. PFG Advisors now owns 54,771 shares of the company’s stock valued at $246,000 after acquiring an additional 23,540 shares during the period. Janney Montgomery Scott LLC lifted its position 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 acquiring an additional 44,863 shares during the period. Finally, Private Advisor Group LLC lifted its position 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 during the period. Institutional investors and hedge funds 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.