Rumble (NASDAQ:RUM) Stock Price Up 3.6%

Rumble Inc. (NASDAQ:RUM - Get Free Report) shares traded up 3.6% during trading on Tuesday . The stock traded as high as $6.35 and last traded at $6.32. 558,366 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 6,086,049 shares. The stock had previously closed at $6.10.

Analyst Ratings Changes

Separately, Oppenheimer reiterated a "market perform" rating on shares of Rumble in a report on Thursday, March 28th.

Rumble Stock Performance

The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -10.61 and a beta of 0.82. The firm's 50-day simple moving average is $7.25 and its 200-day simple moving average is $5.73.

Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.08. The company had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. Equities research analysts forecast that Rumble Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Wojciech Hlibowicki sold 275,000 shares of Rumble stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.20, for a total transaction of $1,980,000.00. Following the sale, the chief technology officer now directly owns 31,776 shares in the company, valued at approximately $228,787.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Wojciech Hlibowicki sold 275,000 shares of Rumble stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.20, for a total transaction of $1,980,000.00. Following the sale, the chief technology officer now directly owns 31,776 shares in the company, valued at approximately $228,787.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Claudio Ramolo sold 300,000 shares of Rumble stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.18, for a total transaction of $2,154,000.00. Following the sale, the insider now owns 6,203 shares in the company, valued at $44,537.54. The disclosure for this sale can be found here. Insiders have sold 1,683,896 shares of company stock worth $11,821,229 in the last ninety days. Insiders own 72.90% of the company's stock.

Institutional Trading of Rumble

Several institutional investors have recently made changes to their positions in RUM. Bank of New York Mellon Corp lifted its holdings in Rumble by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company's stock valued at $181,000 after purchasing an additional 2,581 shares during the last quarter. PFG Advisors lifted its holdings in Rumble by 75.4% during the 4th quarter. PFG Advisors now owns 54,771 shares of the company's stock valued at $246,000 after purchasing an additional 23,540 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Rumble by 69.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 109,126 shares of the company's stock valued at $557,000 after purchasing an additional 44,863 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Rumble by 39.0% during the 3rd quarter. Private Advisor Group LLC now owns 44,877 shares of the company's stock valued at $229,000 after purchasing an additional 12,596 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in Rumble by 26.8% during the 3rd quarter. Sigma Planning Corp now owns 24,341 shares of the company's stock valued at $124,000 after purchasing an additional 5,150 shares during the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a 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. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.