Rumble (NASDAQ:RUM) Stock Price Down 3.5%

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

Analysts Set New Price Targets

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

Rumble Stock Performance

The business has a 50 day moving average price of $7.15 and a two-hundred day moving average price of $5.74. The company has a market cap of $2.38 billion, a P/E ratio of -11.04 and a beta of 0.82.

Rumble (NASDAQ:RUM) last issued its earnings results on Wednesday, March 27th. The company reported ($0.14) EPS 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 business 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% compared to the same quarter last year. As a group, research analysts expect that Rumble Inc. will post -0.64 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Rumble

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in shares of Rumble during the fourth quarter valued at about $32,000. Signaturefd LLC purchased a new position in Rumble in the fourth quarter worth about $32,000. Solano Wealth Management Inc. purchased a new position in Rumble in the third quarter worth about $51,000. LexAurum Advisors LLC purchased a new position in Rumble in the first quarter worth about $81,000. Finally, Wetherby Asset Management Inc. purchased a new position in Rumble in the first quarter worth about $100,000. 26.15% of the stock is owned by institutional investors.

About Rumble

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.