Rumble (NASDAQ:RUM) Stock Price Down 3.5%

Rumble Inc. (NASDAQ:RUM) shares were down 3.5% on Friday . The stock traded as low as $6.07 and last traded at $6.07. Approximately 276,182 shares changed hands during trading, a decline of 95% from the average daily volume of 5,891,734 shares. The stock had previously closed at $6.29.

Analyst Upgrades and Downgrades

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

Rumble Price Performance

The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -11.04 and a beta of 0.82. The firm’s 50 day moving average price is $7.15 and its two-hundred day moving average price is $5.74.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping 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 business had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $28.13 million. During the same period last year, the company posted ($0.06) EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Rumble Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David O. Sacks sold 133,896 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.45, for a total transaction 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 approximately $21,865.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David O. Sacks sold 133,896 shares of Rumble stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.45, for a total transaction of $863,629.20. Following the transaction, the director now owns 3,390 shares in the company, valued at approximately $21,865.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $6.72, for a total transaction of $235,200.00. Following the transaction, the director now owns 15,348,914 shares in the company, valued at approximately $103,144,702.08. The disclosure for this sale can be found here. In the last three months, insiders sold 1,683,896 shares of company stock valued at $11,821,229. Company insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada acquired a new stake in shares of Rumble in the 3rd quarter worth approximately $351,000. Commonwealth Equity Services LLC acquired a new stake in shares of Rumble in the 3rd quarter worth approximately $933,000. Raymond James & Associates lifted its stake in shares of Rumble by 44.4% in the 4th quarter. Raymond James & Associates now owns 19,972 shares of the company’s stock worth $119,000 after acquiring an additional 6,140 shares during the period. Advisor Group Holdings Inc. lifted its stake in Rumble by 55.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 73,480 shares of the company’s stock valued at $438,000 after purchasing an additional 26,289 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Rumble by 916.7% during the fourth quarter. Geode Capital Management LLC now owns 139,878 shares of the company’s stock valued at $832,000 after purchasing an additional 126,120 shares during the last quarter. Institutional investors 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 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.