Insider Selling: Rumble Inc. (NASDAQ:RUM) Director Sells $160,325.00 in Stock

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $5.83, for a total value of $160,325.00. Following the transaction, the director now owns 12,604,837 shares of the company’s stock, valued at $73,486,199.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, November 6th, Robert Arsov sold 30,000 shares of Rumble stock. The stock was sold at an average price of $5.93, for a total value of $177,900.00.
• On Monday, November 4th, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.69, for a total value of $156,475.00.
• On Thursday, October 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.12, for a total value of $140,800.00.
• On Tuesday, October 1st, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.24, for a total value of $144,100.00.
• On Thursday, September 5th, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.59, for a total value of $153,725.00.
• On Tuesday, September 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The stock was sold at an average price of $5.57, for a total value of $153,175.00.

Rumble Trading Down 1.4 %

NASDAQ RUM opened at $5.73 on Friday. Rumble Inc. has a 1-year low of $3.33 and a 1-year high of $9.20. The company has a 50 day moving average of $5.54 and a 200-day moving average of $6.02. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -9.24 and a beta of 0.72.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Rumble had a negative net margin of 163.37% and a negative return on equity of 54.31%. The business had revenue of $22.47 million during the quarter, compared to analyst estimates of $19.69 million. On average, equities research analysts forecast that Rumble Inc. will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in RUM. Redwood Wealth Management Group LLC acquired a new stake in shares of Rumble in the second quarter valued at approximately $30,000. Bank of New York Mellon Corp acquired a new position in Rumble during the second quarter valued at approximately $66,000. SG Americas Securities LLC acquired a new position in Rumble during the second quarter valued at approximately $67,000. Coppell Advisory Solutions Corp. acquired a new position in Rumble during the first quarter valued at approximately $81,000. Finally, RIA Advisory Group LLC acquired a new position in Rumble during the third quarter valued at approximately $81,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Rumble in a report on Tuesday, August 13th.

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.