Wedbush Reiterates “Neutral” Rating for Rumble (NASDAQ:RUM)

Wedbush reaffirmed their neutral rating on shares of Rumble (NASDAQ:RUM) in a report published on Wednesday morning,RTT News reports. They currently have a $8.00 target price on the stock.

Rumble Trading Down 10.0 %

RUM opened at $6.15 on Wednesday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -9.76 and a beta of 0.72. Rumble has a 12 month low of $3.33 and a 12 month high of $9.20. The stock has a fifty day moving average price of $5.60 and a 200-day moving average price of $6.02.

Rumble (NASDAQ:RUM) last announced its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Rumble had a negative net margin of 152.81% and a negative return on equity of 59.00%. The business had revenue of $22.47 million for the quarter, compared to analyst estimates of $19.69 million. On average, equities research analysts forecast that Rumble will post -0.55 EPS for the current year.

Insider Activity at Rumble

In related news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $5.12, for a total transaction of $140,800.00. Following the transaction, the director now directly owns 12,659,837 shares of the company’s stock, valued at $64,818,365.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 195,000 shares of company stock valued at $1,086,500 in the last ninety days. Corporate insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RUM. Redwood Wealth Management Group LLC acquired a new position in Rumble during the 2nd quarter valued at about $30,000. Bank of New York Mellon Corp purchased a new stake in Rumble during the 2nd quarter valued at about $66,000. SG Americas Securities LLC purchased a new stake in Rumble during the 2nd quarter valued at about $67,000. Coppell Advisory Solutions Corp. purchased a new stake in Rumble during the 1st quarter valued at about $81,000. Finally, RIA Advisory Group LLC purchased a new stake in Rumble during the 3rd quarter valued at about $81,000. 26.15% of the stock is 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.