Rumble Inc. (NASDAQ:RUM) Short Interest Update

Rumble Inc. (NASDAQ:RUM) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,400,000 shares, an increase of 24.6% from the February 13th total of 9,950,000 shares. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 6.6% of the shares of the stock are sold short.

Rumble Trading Down 5.2 %

Shares of NASDAQ RUM opened at $7.69 on Wednesday. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -12.21 and a beta of 0.56. Rumble has a 1-year low of $4.92 and a 1-year high of $17.38. The stock’s 50-day moving average is $10.80 and its 200 day moving average is $8.41.

Insiders Place Their Bets

In other Rumble news, Director Ryan Milnes sold 24,978,210 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total value of $187,336,575.00. Following the completion of the transaction, the director now owns 57,290 shares in the company, valued at $429,675. This trade represents a 99.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 64,210 shares in the company, 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 a total of 41,104,017 shares of company stock worth $308,280,128 in the last quarter. 70.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rumble

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc increased its stake in Rumble by 70.9% in the 4th quarter. IFP Advisors Inc now owns 2,000 shares of the company’s stock worth $26,000 after purchasing an additional 830 shares during the period. Coppell Advisory Solutions LLC purchased a new position in Rumble in the 4th quarter worth approximately $35,000. Steward Partners Investment Advisory LLC increased its stake in Rumble by 50.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock worth $38,000 after purchasing an additional 980 shares during the period. Measured Risk Portfolios Inc. purchased a new position in Rumble in the 4th quarter worth approximately $65,000. Finally, Virtu Financial LLC purchased a new position in Rumble in the 3rd quarter worth approximately $70,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Maxim Group started coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price target on the 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.