Rumble Inc. (NASDAQ:RUM) Director Robert Arsov Sells 35,000 Shares of Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 35,000 shares of Rumble stock in a transaction on Monday, May 6th. The shares were sold at an average price of $6.91, for a total value of $241,850.00. Following the sale, the director now directly owns 15,173,902 shares of the company’s stock, valued at approximately $104,851,662.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 3rd, Robert Arsov sold 35,000 shares of Rumble stock. The shares were sold at an average price of $6.85, for a total value of $239,750.00.
• On Wednesday, May 1st, Robert Arsov sold 35,012 shares of Rumble stock. The stock was 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 transaction 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 transaction of $288,400.00.

Rumble Stock Down 0.4 %

Shares of RUM stock opened at $6.85 on Wednesday. The business has a 50-day moving average price of $7.01 and a two-hundred day moving average price of $5.89. Rumble Inc. has a 12-month low of $3.33 and a 12-month high of $11.25. The firm has a market cap of $2.64 billion, a P/E ratio of -12.02 and a beta of 0.88.

Rumble (NASDAQ:RUM) last posted 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. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The firm 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 firm posted ($0.06) earnings per share. The business’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 fiscal year.

Institutional Trading of Rumble

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC purchased a new position in shares of Rumble in the fourth quarter worth about $32,000. Bank of New York Mellon Corp increased its stake in Rumble by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company’s stock worth $181,000 after purchasing an additional 2,581 shares during the period. PFG Advisors lifted its position in Rumble by 75.4% in the fourth quarter. PFG Advisors now owns 54,771 shares of the company’s stock valued at $246,000 after purchasing an additional 23,540 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Rumble by 69.8% during the third quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company’s stock valued at $557,000 after purchasing an additional 44,863 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Rumble by 39.0% in the third quarter. Private Advisor Group LLC now owns 44,877 shares of the company’s stock worth $229,000 after purchasing an additional 12,596 shares during the last quarter. 26.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Rumble Company Profile

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.