Traders Buy Large Volume of Call Options on Rumble (NASDAQ:RUM)

Rumble Inc. (NASDAQ:RUM) was the target of some unusual options trading activity on Tuesday. Stock investors bought 13,792 call options on the stock. This is an increase of approximately 180% compared to the average daily volume of 4,926 call options.

Insider Activity at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $5.87, for a total transaction of $161,425.00. Following the sale, the director now owns 14,879,837 shares of the company’s stock, valued at approximately $87,344,643.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 167,500 shares of company stock valued at $936,825 in the last quarter. Insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Several institutional investors and hedge funds have recently made changes to their positions in RUM. Empirical Capital Management LLC acquired a new stake in Rumble in the first quarter valued at approximately $1,584,000. HighPoint Advisor Group LLC acquired a new stake in Rumble in the 4th quarter valued at $499,000. Virtu Financial LLC bought a new stake in Rumble during the 1st quarter valued at $339,000. Avantax Advisory Services Inc. acquired a new position in Rumble during the first quarter worth $335,000. Finally, Bayesian Capital Management LP bought a new position in shares of Rumble in the first quarter valued at $256,000. Institutional investors own 26.15% of the company’s stock.

Analysts Set New Price Targets

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

Rumble Stock Up 9.0 %

Shares of Rumble stock opened at $5.96 on Wednesday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -9.31 and a beta of 0.74. Rumble has a twelve month low of $3.33 and a twelve month high of $9.20. The company’s fifty day moving average is $5.60 and its 200 day moving average is $6.10.

Rumble (NASDAQ:RUM) last announced its earnings results on Monday, August 12th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 company had revenue of $22.47 million during the quarter, compared to the consensus estimate of $19.69 million. As a group, equities analysts anticipate that Rumble will post -0.55 earnings per share for the current fiscal year.

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.