Rumble Inc. (NASDAQ:RUM – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.75, but opened at $6.00. Rumble shares last traded at $5.77, with a volume of 405,924 shares traded.
Wall Street Analyst Weigh In
Separately, Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Rumble in a research report on Tuesday.
Rumble Trading Up 5.6 %
Rumble (NASDAQ:RUM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $17.73 million during the quarter, compared to analysts’ expectations of $18.27 million. Rumble had a negative return on equity of 46.51% and a negative net margin of 161.62%. During the same quarter in the prior year, the firm posted ($0.10) EPS. As a group, research analysts forecast that Rumble Inc. will post -0.56 earnings per share for the current fiscal year.
Insider Buying and Selling at Rumble
In related news, Director Robert Arsov sold 30,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $6.06, for a total transaction of $181,800.00. Following the completion of the sale, the director now owns 15,083,902 shares in the company, valued at approximately $91,408,446.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 200,000 shares of company stock valued at $1,176,525. 72.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Rumble
Institutional investors have recently modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new position in shares of Rumble in the 2nd quarter valued at about $30,000. Principal Securities Inc. acquired a new position in Rumble in the fourth quarter valued at about $32,000. Signaturefd LLC bought a new stake in shares of Rumble during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC boosted its holdings in shares of Rumble by 1,100.0% in the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company’s stock valued at $48,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Rumble by 1,270.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company’s stock valued at $55,000 after acquiring an additional 6,350 shares during the last quarter. 26.15% of the stock is owned by institutional investors.
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.
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