Rumble (NASDAQ:RUM) Receives Neutral Rating from Wedbush

Rumble (NASDAQ:RUM)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a note issued to investors on Wednesday,RTT News reports. They currently have a $8.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 35.36% from the stock’s previous close. Wedbush also issued estimates for Rumble’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.60) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.33) EPS and FY2026 earnings at ($0.26) EPS.

Rumble Stock Performance

Rumble stock opened at $5.91 on Wednesday. The business has a 50-day simple moving average of $5.62 and a two-hundred day simple moving average of $6.02. Rumble has a 52-week low of $3.33 and a 52-week high of $9.20.

Rumble (NASDAQ:RUM) last announced its earnings results on Monday, August 12th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The business had revenue of $22.47 million for the quarter, compared to analysts’ expectations of $19.69 million. On average, equities research analysts expect that Rumble will post -0.55 EPS for the current year.

Insider Buying and Selling

In other Rumble news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $5.12, for a total value of $140,800.00. Following the completion of the transaction, the director now directly owns 12,659,837 shares in the company, valued at $64,818,365.44. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 195,000 shares of company stock valued at $1,086,500. 72.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rumble

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Rumble by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock valued at $2,564,000 after buying an additional 24,879 shares in the last quarter. Empirical Capital Management LLC purchased a new position in shares of Rumble in the first quarter valued at $1,584,000. Cambridge Investment Research Advisors Inc. raised its stake in Rumble by 5.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 175,927 shares of the company’s stock valued at $976,000 after purchasing an additional 8,824 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Rumble by 34.4% during the first quarter. Janney Montgomery Scott LLC now owns 106,699 shares of the company’s stock valued at $862,000 after purchasing an additional 27,289 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Rumble during the first quarter valued at $339,000. 26.15% of the stock is owned by hedge funds and other institutional investors.

About Rumble

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.