Rumble (NASDAQ:RUM) Shares Down 3.5%

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s share price fell 3.5% during trading on Friday . The stock traded as low as $6.07 and last traded at $6.07. 276,182 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 5,891,734 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

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

Rumble Trading Down 1.0 %

The firm's 50 day moving average is $7.15 and its two-hundred day moving average is $5.74. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -10.93 and a beta of 0.82.

Rumble (NASDAQ:RUM - Get Free Report) last announced its earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.08. Rumble had a negative net margin of 143.79% and a negative return on equity of 38.52%. The firm had revenue of $20.39 million during the quarter, compared to the consensus estimate of $28.13 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Rumble Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Rumble

In related news, Director David O. Sacks sold 133,896 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.45, for a total value of $863,629.20. Following the completion of the transaction, the director now owns 3,390 shares of the company's stock, valued at approximately $21,865.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David O. Sacks sold 133,896 shares of the company's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.45, for a total transaction of $863,629.20. Following the completion of the transaction, the director now owns 3,390 shares of the company's stock, valued at approximately $21,865.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brandon Alexandroff sold 900,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the transaction, the chief financial officer now directly owns 31,776 shares of the company's stock, valued at approximately $222,432. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,683,896 shares of company stock valued at $11,821,229. 72.90% of the stock is owned by insiders.

Institutional Trading of Rumble

A number of institutional investors and hedge funds have recently bought and sold shares of RUM. Harbour Investments Inc. boosted its holdings in Rumble by 11.4% in the 4th quarter. Harbour Investments Inc. now owns 14,999 shares of the company's stock worth $67,000 after acquiring an additional 1,540 shares during the period. Stifel Financial Corp boosted its holdings in Rumble by 14.2% in the 2nd quarter. Stifel Financial Corp now owns 13,290 shares of the company's stock worth $119,000 after acquiring an additional 1,649 shares during the period. Cetera Advisor Networks LLC boosted its holdings in Rumble by 11.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 18,395 shares of the company's stock worth $109,000 after acquiring an additional 1,850 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rumble by 5.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,378 shares of the company's stock worth $247,000 after acquiring an additional 2,413 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Rumble by 7.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 35,392 shares of the company's stock worth $181,000 after acquiring an additional 2,581 shares during the period. Institutional investors and hedge funds own 26.15% of the company's stock.

Rumble Company Profile

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.