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 stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.85, for a total value of $239,750.00. Following the sale, the director now directly owns 15,208,902 shares in the company, valued at approximately $104,180,978.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The shares were sold at an average price of $6.70, for a total value of $234,580.40.
• On Thursday, April 4th, Robert Arsov sold 35,000 shares of Rumble stock. The shares were sold at an average price of $6.72, for a total value 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 value of $288,400.00.

Rumble Stock Performance

NASDAQ RUM traded up $0.20 during trading hours on Friday, hitting $6.98. 626,378 shares of the company’s stock were exchanged, compared to its average volume of 5,326,599. The business’s 50 day moving average is $7.00 and its 200-day moving average is $5.84. Rumble Inc. has a 12-month low of $3.33 and a 12-month high of $11.25. The firm has a market capitalization of $2.69 billion, a P/E ratio of -12.25 and a beta of 0.88.

Rumble (NASDAQ:RUM) last released its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping 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 firm had revenue of $20.39 million for the quarter, compared to the consensus estimate of $28.13 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Rumble Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Rumble

A number of large investors have recently modified their holdings of RUM. Signaturefd LLC purchased a new position in shares of Rumble in the 4th quarter worth about $32,000. Principal Securities Inc. purchased a new position in shares of Rumble in the 4th quarter worth about $32,000. Global Retirement Partners LLC raised its holdings in shares of Rumble by 1,100.0% in the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock worth $48,000 after purchasing an additional 5,500 shares during the period. Solano Wealth Management Inc. purchased a new position in shares of Rumble in the 3rd quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Rumble by 1,270.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock worth $55,000 after purchasing an additional 6,350 shares during the period. 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.