Rumble Inc. (NASDAQ:RUM) Director Robert Arsov Sells 27,500 Shares

Rumble Inc. (NASDAQ:RUM) Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $5.24, for a total value of $144,100.00. Following the sale, the director now directly owns 12,714,837 shares of the company’s stock, valued at approximately $66,625,745.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, October 3rd, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.12, for a total value of $140,800.00.
• 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 transaction of $153,175.00.
• On Monday, August 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.87, for a total transaction of $161,425.00.
• On Thursday, August 1st, Robert Arsov sold 30,000 shares of Rumble stock. The stock was sold at an average price of $6.12, for a total transaction of $183,600.00.
• On Friday, July 5th, Robert Arsov sold 27,500 shares of Rumble stock. The shares were sold at an average price of $5.59, for a total transaction of $153,725.00.

Rumble Stock Performance

Shares of NASDAQ RUM traded up $0.05 during trading hours on Thursday, hitting $5.23. The company’s stock had a trading volume of 737,129 shares, compared to its average volume of 3,087,122. Rumble Inc. has a 12 month low of $3.33 and a 12 month high of $9.20. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -8.09 and a beta of 0.75. The business has a 50-day simple moving average of $5.74 and a 200-day simple moving average of $6.27.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data 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). The business had revenue of $22.47 million during the quarter, compared to the consensus estimate of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. On average, equities research analysts forecast that Rumble Inc. will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new stake in shares of Rumble in the 2nd quarter worth about $30,000. Coppell Advisory Solutions Corp. bought a new position in Rumble in the first quarter worth about $81,000. LexAurum Advisors LLC purchased a new stake in Rumble in the first quarter worth about $81,000. Bank of New York Mellon Corp bought a new stake in Rumble during the 2nd quarter valued at approximately $66,000. Finally, SG Americas Securities LLC purchased a new position in shares of Rumble during the 2nd quarter worth approximately $67,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wedbush reissued a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research note 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.