Rumble Target of Unusually Large Options Trading (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) saw some unusual options trading activity on Monday. Stock investors bought 15,602 call options on the stock. This is an increase of approximately 174% compared to the typical volume of 5,704 call options.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rumble in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $8.00.

Insider Buying and Selling

In other news, major shareholder Holdings S.A. De C.V. Tether bought 270,478 shares of the stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $5.46 per share, for a total transaction of $1,476,809.88. Following the purchase, the insider directly owned 104,397,003 shares of the company’s stock, valued at $570,007,636.38. This trade represents a 0.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tether Global Investments Fund purchased 44,355 shares of Rumble stock in a transaction dated Friday, February 6th. The shares were purchased at an average price of $5.48 per share, with a total value of $243,065.40. Following the completion of the transaction, the insider directly owned 105,174,015 shares in the company, valued at approximately $576,353,602.20. This represents a 0.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,840,682 shares of company stock worth $9,991,142 in the last ninety days. 70.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Rumble in the 3rd quarter worth approximately $28,000. Mather Group LLC. purchased a new position in Rumble in the 3rd quarter worth $43,000. Northwestern Mutual Wealth Management Co. bought a new stake in Rumble in the fourth quarter worth $47,000. CWM LLC boosted its position in Rumble by 41.9% during the second quarter. CWM LLC now owns 6,238 shares of the company’s stock valued at $56,000 after buying an additional 1,843 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Rumble during the second quarter valued at about $72,000. 26.15% of the stock is currently owned by institutional investors.

Rumble Stock Performance

NASDAQ RUM opened at $6.33 on Wednesday. Rumble has a 52-week low of $5.11 and a 52-week high of $12.15. The company has a fifty day moving average of $6.46 and a 200-day moving average of $6.99. The company has a market capitalization of $2.75 billion, a P/E ratio of -4.72 and a beta of 0.69.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Rumble had a negative net margin of 275.47% and a negative return on equity of 78.52%. The firm had revenue of $24.76 million for the quarter, compared to analysts’ expectations of $26.86 million. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts forecast that Rumble will post -0.62 EPS for the current fiscal year.

Rumble Company Profile

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company’s primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.