Robert Arsov Sells 35,000 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $6.91, for a total value of $241,850.00. Following the completion of the transaction, the director now owns 15,173,902 shares of the company’s stock, valued at approximately $104,851,662.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, May 3rd, Robert Arsov sold 35,000 shares of Rumble stock. The stock was sold at an average price of $6.85, for a total value of $239,750.00.
• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The stock was sold at an average price of $6.70, for a total transaction of $234,580.40.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The stock was sold at an average price of $6.72, for a total transaction of $235,200.00.
• On Tuesday, April 2nd, Robert Arsov sold 40,000 shares of Rumble stock. The shares were sold at an average price of $7.21, for a total transaction of $288,400.00.

Rumble Stock Performance

Shares of NASDAQ:RUM opened at $6.73 on Thursday. Rumble Inc. has a 52-week low of $3.33 and a 52-week high of $11.25. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -11.81 and a beta of 0.88. The stock’s 50-day simple moving average is $7.01 and its two-hundred day simple moving average is $5.89.

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 the consensus estimate of ($0.22) by $0.08. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The company had revenue of $20.39 million during the quarter, compared to analyst estimates of $28.13 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Rumble

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC purchased a new position in Rumble during the fourth quarter valued at $32,000. Principal Securities Inc. purchased a new position in shares of Rumble during the 4th quarter valued at about $32,000. Global Retirement Partners LLC grew its stake in shares of Rumble by 1,100.0% during the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock valued at $48,000 after acquiring an additional 5,500 shares during the period. Solano Wealth Management Inc. bought a new stake in Rumble during the 3rd quarter worth approximately $51,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Rumble by 1,270.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock valued at $55,000 after purchasing an additional 6,350 shares in the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

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.