Rumble’s (RUM) Neutral Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Rumble (NASDAQ:RUM) in a research note published on Wednesday morning,RTT News reports. The brokerage currently has a $8.00 price target on the stock. 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 Price Performance

Shares of RUM opened at $5.61 on Wednesday. The firm has a market capitalization of $2.18 billion, a PE ratio of -8.90 and a beta of 0.72. The company’s 50-day moving average is $5.63 and its 200-day moving average is $6.01. Rumble has a fifty-two week low of $3.33 and a fifty-two week high of $9.20.

Insider Activity at Rumble

In related news, Director Robert Arsov sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $5.93, for a total value of $177,900.00. Following the transaction, the director now directly owns 12,517,337 shares in the company, valued at approximately $74,227,808.41. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 195,000 shares of company stock worth $1,086,500. Corporate insiders own 72.90% of the company’s stock.

Institutional Investors Weigh In On Rumble

Large investors have recently bought and sold shares of the company. Avantax Advisory Services Inc. acquired a new stake in Rumble during the first quarter worth about $335,000. Virtu Financial LLC acquired a new stake in shares of Rumble in the 1st quarter valued at approximately $339,000. Bank of New York Mellon Corp acquired a new stake in shares of Rumble in the 2nd quarter valued at approximately $66,000. SG Americas Securities LLC acquired a new stake in shares of Rumble in the 2nd quarter valued at approximately $67,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Rumble by 34.4% in the 1st 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 in the last quarter. 26.15% of the stock is currently 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 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.