Rumble (NASDAQ:RUM) Trading 3.6% Higher

Rumble Inc. (NASDAQ:RUM) traded up 3.6% on Tuesday . The stock traded as high as $6.35 and last traded at $6.32. 558,366 shares changed hands during trading, a decline of 91% from the average session 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 report on Thursday, March 28th.

Rumble Stock Performance

The firm has a 50-day moving average of $7.18 and a two-hundred day moving average of $5.74.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.08. The company had revenue of $20.39 million for the quarter, compared to the consensus estimate of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. Analysts forecast that Rumble Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brandon Alexandroff sold 900,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the sale, the chief financial officer now directly owns 31,776 shares in the company, valued at $222,432. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rumble news, CFO Brandon Alexandroff sold 900,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $7.00, for a total value of $6,300,000.00. Following the sale, the chief financial officer now directly owns 31,776 shares in the company, valued at $222,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Wojciech Hlibowicki sold 275,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.20, for a total value of $1,980,000.00. Following the completion of the sale, the chief technology officer now owns 31,776 shares in the company, valued at $228,787.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,683,896 shares of company stock worth $11,821,229. Company insiders own 72.90% of the company’s stock.

Institutional Trading of Rumble

A number of large investors have recently bought and sold shares of RUM. Signaturefd LLC acquired a new position in Rumble in the fourth quarter worth $32,000. Principal Securities Inc. acquired a new position in shares of Rumble during the fourth quarter valued at $32,000. Solano Wealth Management Inc. acquired a new position in shares of Rumble during the third quarter valued at $51,000. Red Door Wealth Management LLC acquired a new position in shares of Rumble during the third quarter valued at $53,000. Finally, Harbour Investments Inc. lifted its stake in shares of Rumble by 11.4% during the fourth quarter. Harbour Investments Inc. now owns 14,999 shares of the company’s stock valued at $67,000 after acquiring an additional 1,540 shares during the period. 26.15% of the stock is currently owned by institutional investors.

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.