Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff Sells 6,828,420 Shares of Stock

Rumble Inc. (NASDAQ:RUM) CFO Brandon Alexandroff sold 6,828,420 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the transaction, the chief financial officer now owns 64,210 shares of the company’s stock, valued at $481,575. This represents a 99.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rumble Stock Down 8.8 %

Shares of NASDAQ RUM opened at $11.17 on Wednesday. The firm has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $7.78. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of -17.73 and a beta of 0.50. Rumble Inc. has a 52 week low of $4.92 and a 52 week high of $17.40.

Rumble (NASDAQ:RUM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. During the same quarter last year, the company earned ($0.14) earnings per share. As a group, equities research analysts expect that Rumble Inc. will post -0.62 EPS for the current year.

Institutional Investors Weigh In On Rumble

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Rumble by 14.5% during the third quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock worth $5,553,000 after purchasing an additional 130,956 shares during the last quarter. Barclays PLC increased its position in Rumble by 663.9% during the third quarter. Barclays PLC now owns 13,559 shares of the company’s stock worth $72,000 after purchasing an additional 11,784 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares during the last quarter. MML Investors Services LLC acquired a new stake in Rumble during the third quarter worth about $185,000. Finally, FMR LLC increased its position in Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock worth $120,000 after purchasing an additional 20,343 shares during the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on RUM. Maxim Group began coverage on shares of Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective for the company. Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research report on Wednesday, November 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.