Rumble (NASDAQ:RUM) Shares Down 7% After Insider Selling

Rumble Inc. (NASDAQ:RUM - Get Free Report) fell 7% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $5.20 and last traded at $5.20. 342,663 shares were traded during trading, a decline of 90% from the average session volume of 3,336,492 shares. The stock had previously closed at $5.59.Rumble Stock Gets Ready to Rumble in its Second Quarter Specifically, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.59, for a total transaction of $153,725.00. Following the transaction, the director now owns 14,769,837 shares of the company's stock, valued at $82,563,388.83. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Arsov sold 27,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.57, for a total value of $153,175.00. Following the completion of the sale, the director now directly owns 14,824,837 shares of the company's stock, valued at $82,574,342.09. The disclosure for this sale can be found here. Wall Street Analyst Weigh InSeparately, Wedbush reiterated a "neutral" rating and issued a $8.00 price target on shares of Rumble in a research report on Tuesday, August 13th.Is Rumble Revving Up for Growth or Just Sputtering? View Our Latest Stock Analysis on RUMRumble Price PerformanceThe firm has a market cap of $2.02 billion, a price-to-earnings ratio of -8.28 and a beta of 0.77. The firm's 50 day moving average price is $6.07 and its two-hundred day moving average price is $6.51. How and When to Roll Your Options Positions? Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.03). The company had revenue of $22.47 million for the quarter, compared to analyst estimates of $19.69 million. Rumble had a negative return on equity of 54.31% and a negative net margin of 163.37%. On average, analysts anticipate that Rumble Inc. will post -0.55 earnings per share for the current year. Hedge Funds Weigh In On RumbleA number of hedge funds and other institutional investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new stake in Rumble in the second quarter valued at about $30,000. Global Retirement Partners LLC lifted its holdings in shares of Rumble by 1,100.0% in the 1st quarter. Global Retirement Partners LLC now owns 6,000 shares of the company's stock valued at $48,000 after buying an additional 5,500 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Rumble by 1,270.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 6,850 shares of the company's stock valued at $55,000 after buying an additional 6,350 shares during the period. Principal Securities Inc. purchased a new stake in shares of Rumble in the fourth quarter valued at approximately $32,000. Finally, LexAurum Advisors LLC acquired a new position in Rumble during the first quarter worth $81,000. 26.15% of the stock is currently owned by hedge funds and other institutional investors. Rumble Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than RumbleThe 3 Best Blue-Chip Stocks to Buy NowDoes GTA VI Make Take-Two Interactive Stock an Irresistible Buy?With Risk Tolerance, One Size Does Not Fit AllWhy HPE’s Dip Is a Prime Opportunity for Blue-Chip AI InvestorsBest Aerospace Stocks Investing Why Analysts See Big Upside for Occidental Petroleum Despite LowsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ Biden's Successor: The Radical Threat to YOUR Savings! 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