Rumble (NASDAQ:RUM) Trading 3.6% Higher

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

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reiterated a “market perform” rating on shares of Rumble in a research note on Thursday, March 28th.

Rumble Stock Up 2.0 %

The business has a 50 day simple moving average of $7.18 and a 200 day simple moving average of $5.74.

Rumble (NASDAQ:RUM) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. The business had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. Rumble had a negative return on equity of 38.52% and a negative net margin of 143.79%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. As a group, equities research analysts predict that Rumble Inc. will post -0.64 EPS for the current year.

Insider Activity

In other news, CFO Brandon Alexandroff sold 900,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.00, for a total value 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 $222,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brandon Alexandroff sold 900,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.00, for a total transaction of $6,300,000.00. Following the sale, the chief financial officer now directly owns 31,776 shares of the company’s stock, valued at $222,432. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Claudio Ramolo sold 300,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.18, for a total value of $2,154,000.00. Following the sale, the insider now directly owns 6,203 shares in the company, valued at $44,537.54. The disclosure for this sale can be found here. Over 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 Trading of Rumble

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Rumble by 12.7% during the second quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock worth $15,507,000 after acquiring an additional 196,564 shares during the period. State Street Corp grew its holdings in Rumble by 236.7% in the second quarter. State Street Corp now owns 946,213 shares of the company’s stock valued at $8,440,000 after purchasing an additional 665,213 shares during the period. Geode Capital Management LLC grew its holdings in Rumble by 1.9% in the second quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock valued at $8,179,000 after purchasing an additional 16,778 shares during the period. Ameriprise Financial Inc. acquired a new stake in Rumble in the third quarter valued at approximately $5,042,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Rumble in the first quarter valued at approximately $5,040,000. 26.15% of the stock is owned by institutional investors and hedge funds.

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.