Ryan Milnes Sells 24,978,210 Shares of Rumble Inc. (NASDAQ:RUM) Stock

Rumble Inc. (NASDAQ:RUM) Director Ryan Milnes sold 24,978,210 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $187,336,575.00. Following the sale, the director now owns 57,290 shares of the company’s stock, valued at $429,675. This represents a 99.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rumble Stock Performance

Rumble stock opened at $10.79 on Thursday. The firm has a market capitalization of $4.21 billion, a PE ratio of -17.13 and a beta of 0.50. The stock’s 50 day moving average price is $11.41 and its 200 day moving average price is $7.82. Rumble Inc. has a one year low of $4.92 and a one year high of $17.40.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $25.06 million for the quarter, compared to analyst estimates of $29.25 million. During the same period in the previous year, the business posted ($0.14) earnings per share. On average, analysts forecast that Rumble Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Rumble

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position 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 worth $103,723,000 after buying an additional 229,294 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rumble by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,041,044 shares of the company’s stock valued at $13,550,000 after acquiring an additional 5,326 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rumble by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 492,793 shares of the company’s stock worth $6,411,000 after acquiring an additional 14,476 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Rumble in the 4th quarter worth about $2,540,000. Finally, LPL Financial LLC raised its stake in shares of Rumble by 18.9% in the 4th quarter. LPL Financial LLC now owns 109,403 shares of the company’s stock valued at $1,423,000 after purchasing an additional 17,391 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RUM. Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Rumble in a report on Wednesday, November 13th. Maxim Group started coverage on shares of Rumble in a research note on Wednesday, January 15th. They issued a “buy” rating and a $20.00 target price on the stock.

Rumble Company Profile

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.