Wedbush Cuts Rumble (NASDAQ:RUM) Price Target to $10.00

Rumble (NASDAQ:RUM) had its price target cut by Wedbush from $13.00 to $10.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock. Wedbush also issued estimates for Rumble’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.06) EPS, FY2025 earnings at ($0.35) EPS and FY2026 earnings at ($0.29) EPS.

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

Rumble Trading Down 6.0 %

Shares of NASDAQ RUM opened at $7.24 on Wednesday. Rumble has a 12-month low of $4.92 and a 12-month high of $17.40. The firm’s 50-day moving average price is $10.21 and its 200-day moving average price is $8.50. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -11.49 and a beta of 0.56.

Rumble (NASDAQ:RUM) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The company had revenue of $30.20 million during the quarter, compared to the consensus estimate of $29.74 million. The business’s revenue was up 48.0% compared to the same quarter last year. On average, equities analysts predict that Rumble will post -0.62 EPS for the current fiscal year.

Insider Transactions at Rumble

In other Rumble news, Director Ryan Milnes sold 24,978,210 shares of the company’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 transaction of $187,336,575.00. Following the transaction, the director now owns 57,290 shares in the company, valued at approximately $429,675. This represents a 99.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Pavlovski sold 354,849 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $2,661,367.50. Following the sale, the chief executive officer now directly owns 522,927 shares in the company, valued at $3,921,952.50. This trade represents a 40.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,104,017 shares of company stock valued at $308,280,128. Corporate insiders own 70.10% of the company’s stock.

Institutional Trading of Rumble

Institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc boosted its position 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 in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Rumble by 50.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,933 shares of the company’s stock valued at $38,000 after purchasing an additional 980 shares during the period. Bank of New York Mellon Corp increased its position in shares of Rumble by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 13,396 shares of the company’s stock valued at $174,000 after buying an additional 1,510 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in Rumble during the fourth quarter worth $35,000. Finally, Sigma Planning Corp lifted its stake in Rumble by 17.8% in the 4th quarter. Sigma Planning Corp now owns 26,332 shares of the company’s stock valued at $343,000 after buying an additional 3,985 shares in the last quarter. 26.15% of the stock is currently owned by institutional investors and hedge funds.

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.