Rumble (NASDAQ:RUM) Trading Up 3.6%

Rumble Inc. (NASDAQ:RUM)’s stock price rose 3.6% during mid-day trading on Tuesday . The company traded as high as $6.35 and last traded at $6.32. Approximately 558,366 shares were traded during trading, a decline of 91% from the average daily volume of 6,086,049 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

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

Rumble Stock Performance

The business has a 50 day moving average of $7.25 and a 200-day moving average of $5.73.

Rumble (NASDAQ:RUM) last announced its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 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 business posted ($0.06) EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Rumble

In other Rumble news, Director David O. Sacks sold 133,896 shares of Rumble stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $6.45, for a total value of $863,629.20. Following the transaction, the director now directly owns 3,390 shares in the company, valued at approximately $21,865.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert Arsov sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $6.72, for a total value of $235,200.00. Following the completion of the sale, the director now directly owns 15,348,914 shares of the company’s stock, valued at approximately $103,144,702.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David O. Sacks sold 133,896 shares of the firm’s 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 completion of the sale, 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. In the last ninety days, insiders have sold 1,683,896 shares of company stock worth $11,821,229. 72.90% of the stock is currently owned by insiders.

Institutional Trading of Rumble

Several hedge funds have recently modified their holdings of the business. Signaturefd LLC acquired a new position in Rumble during the fourth quarter worth $32,000. Principal Securities Inc. acquired a new position in Rumble during the fourth quarter worth $32,000. Solano Wealth Management Inc. acquired a new position in Rumble during the third quarter worth $51,000. Red Door Wealth Management LLC acquired a new position in Rumble during the third quarter worth $53,000. Finally, Harbour Investments Inc. raised its holdings in Rumble by 11.4% during the fourth quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock worth $67,000 after purchasing an additional 1,540 shares during the last quarter. 26.15% of the stock is owned by institutional investors and hedge funds.

Rumble Company Profile

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.