Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes Sells 312,727 Shares of Stock

Rumble Inc. (NASDAQ:RUM) COO Tyler Hughes sold 312,727 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,345,452.50. Following the transaction, the chief operating officer now directly owns 65,127 shares of the company’s stock, valued at $488,452.50. The trade was a 82.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rumble Stock Down 8.8 %

Shares of NASDAQ RUM opened at $11.17 on Wednesday. Rumble Inc. has a twelve month low of $4.92 and a twelve month high of $17.40. The firm has a fifty day simple moving average of $11.32 and a 200 day simple moving average of $7.78. The company has a market capitalization of $4.35 billion, a PE ratio of -17.73 and a beta of 0.50.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Maxim Group began coverage on shares of Rumble in a research note on Wednesday, January 15th. They set a “buy” rating and a $20.00 price target for the company. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On Rumble

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Rumble by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 7,972,575 shares of the company’s stock valued at $103,723,000 after buying an additional 229,294 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Rumble by 18.9% during the fourth quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after buying an additional 17,391 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Rumble during the fourth quarter valued at about $138,000. Virtu Financial LLC grew its holdings in shares of Rumble by 88.4% during the fourth quarter. Virtu Financial LLC now owns 24,589 shares of the company’s stock valued at $320,000 after buying an additional 11,539 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Rumble during the fourth quarter valued at about $468,000. 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.