Rumble (NASDAQ:RUM) Shares Gap Up – Still a Buy?

Rumble Inc. (NASDAQ:RUM)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.52, but opened at $12.03. Rumble shares last traded at $11.89, with a volume of 846,879 shares trading hands.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Rumble in a research note on Wednesday, November 13th. Maxim Group assumed coverage on shares of Rumble in a research report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective on the stock.

Rumble Trading Down 2.3 %

The firm has a market cap of $4.33 billion, a PE ratio of -17.65 and a beta of 0.50. The firm has a fifty day simple moving average of $11.82 and a two-hundred day simple moving average of $8.02.

Insider Buying and Selling

In other Rumble news, CEO Christopher Pavlovski sold 354,849 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the transaction, the chief executive officer now owns 522,927 shares in the company, valued at approximately $3,921,952.50. This represents a 40.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $51,213,150.00. Following the completion of the transaction, the chief financial officer now owns 64,210 shares of the company’s stock, valued at approximately $481,575. The trade was a 99.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,134,005 shares of company stock valued at $308,487,045 over the last quarter. 70.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rumble

A number of institutional investors have recently added to or reduced their stakes in the company. Cypress Point Wealth Management LLC purchased a new stake in shares of Rumble in the 3rd quarter worth about $98,000. RIA Advisory Group LLC bought a new stake in Rumble during the third quarter worth about $81,000. Charles Schwab Investment Management Inc. grew its holdings in Rumble by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares during the period. FMR LLC increased its stake in shares of Rumble by 995.3% during the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after purchasing an additional 20,343 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rumble by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,962 shares of the company’s stock valued at $166,000 after purchasing an additional 5,348 shares during the last quarter. 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.