Rumble Inc. (NASDAQ:RUM) Sees Significant Decline in Short Interest

Rumble Inc. (NASDAQ:RUM) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 12,500,000 shares, a drop of 14.3% from the March 31st total of 14,580,000 shares. Approximately 19.1% of the company’s shares are sold short. Based on an average trading volume of 6,220,000 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Claudio Ramolo sold 300,000 shares of Rumble stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.18, for a total transaction of $2,154,000.00. Following the transaction, the insider now owns 6,203 shares of the company’s stock, valued at approximately $44,537.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rumble news, insider Claudio Ramolo sold 300,000 shares of Rumble stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.18, for a total value of $2,154,000.00. Following the transaction, the insider now owns 6,203 shares of the company’s stock, valued at $44,537.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brandon Alexandroff sold 900,000 shares of Rumble stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 31,776 shares in the company, valued at approximately $222,432. The disclosure for this sale can be found here. Insiders have sold 1,683,896 shares of company stock valued at $11,821,229 in the last 90 days. 72.90% of the stock is owned by insiders.

Institutional Trading of Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in RUM. Bank of New York Mellon Corp boosted its position in shares of Rumble by 7.9% in the third quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company’s stock valued at $181,000 after acquiring an additional 2,581 shares during the period. PFG Advisors boosted its holdings in shares of Rumble by 75.4% during the 4th quarter. PFG Advisors now owns 54,771 shares of the company’s stock worth $246,000 after buying an additional 23,540 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Rumble by 69.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock worth $557,000 after purchasing an additional 44,863 shares in the last quarter. Private Advisor Group LLC lifted its stake in 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 in the last quarter. Finally, Sigma Planning Corp lifted its stake in Rumble by 26.8% during the 3rd quarter. Sigma Planning Corp now owns 24,341 shares of the company’s stock valued at $124,000 after acquiring an additional 5,150 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Rumble Stock Down 0.2 %

NASDAQ RUM opened at $6.53 on Monday. Rumble has a 12-month low of $3.33 and a 12-month high of $11.25. The company has a market capitalization of $2.52 billion, a PE ratio of -11.46 and a beta of 0.82. The firm’s 50 day moving average is $7.03 and its 200-day moving average is $5.81.

Rumble (NASDAQ:RUM) last posted its quarterly earnings data 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 net margin of 143.79% and a negative return on equity of 38.52%. The company had revenue of $20.39 million for the quarter, compared to the consensus estimate of $28.13 million. During the same period last year, the company earned ($0.06) earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Rumble will post -0.64 EPS for the current year.

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.