Rumble (NASDAQ:RUM) Trading Down 5.8%

Rumble Inc. (NASDAQ:RUM - Get Free Report)'s stock price was down 5.8% on Wednesday . The stock traded as low as $6.61 and last traded at $6.65. Approximately 515,219 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 5,423,307 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

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

Rumble Stock Down 5.1 %

The stock has a 50-day simple moving average of $7.02 and a 200 day simple moving average of $5.83. The company has a market cap of $2.59 billion, a PE ratio of -11.53 and a beta of 0.82.

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

Insider Activity

In other news, CTO Wojciech Hlibowicki sold 275,000 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.20, for a total value of $1,980,000.00. Following the completion of the sale, the chief technology officer now directly owns 31,776 shares of the company's stock, valued at approximately $228,787.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rumble news, Director Robert Arsov sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $7.21, for a total transaction of $288,400.00. Following the completion of the sale, the director now directly owns 15,423,914 shares of the company's stock, valued at approximately $111,206,419.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Wojciech Hlibowicki sold 275,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.20, for a total value of $1,980,000.00. Following the sale, the chief technology officer now directly owns 31,776 shares of the company's stock, valued at $228,787.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,683,896 shares of company stock valued at $11,821,229. Company insiders own 72.90% of the company's stock.

Institutional Investors Weigh In On Rumble

Large investors have recently modified their holdings of the stock. Signaturefd LLC purchased a new position in Rumble in the 4th quarter valued at $32,000. Principal Securities Inc. acquired a new stake in shares of Rumble in the 4th quarter worth $32,000. Global Retirement Partners LLC boosted its holdings in shares of Rumble by 1,100.0% in the first quarter. Global Retirement Partners LLC now owns 6,000 shares of the company's stock valued at $48,000 after acquiring an additional 5,500 shares in the last quarter. Solano Wealth Management Inc. acquired a new position in shares of Rumble during the third quarter worth about $51,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Rumble by 1,270.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company's stock worth $55,000 after purchasing an additional 6,350 shares in the last quarter. Hedge funds and other institutional investors 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 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.