What is Wedbush’s Estimate for Rumble FY2024 Earnings?

Rumble Inc. (NASDAQ:RUM) – Analysts at Wedbush decreased their FY2024 earnings per share estimates for Rumble in a report issued on Wednesday, November 13th. Wedbush analyst S. Devitt now forecasts that the company will earn ($0.60) per share for the year, down from their previous forecast of ($0.53). Wedbush currently has a “Neutral” rating and a $8.00 target price on the stock. The consensus estimate for Rumble’s current full-year earnings is ($0.55) per share. Wedbush also issued estimates for Rumble’s Q4 2024 earnings at ($0.11) EPS, FY2025 earnings at ($0.33) EPS and FY2026 earnings at ($0.26) EPS.

Rumble Stock Performance

RUM opened at $5.61 on Friday. Rumble has a twelve month low of $3.33 and a twelve month high of $9.20. The firm’s fifty day moving average is $5.62 and its two-hundred day moving average is $6.02. The firm has a market cap of $2.18 billion, a PE ratio of -8.90 and a beta of 0.72.

Hedge Funds Weigh In On Rumble

A number of hedge funds and other institutional investors have recently bought and sold shares of RUM. Empirical Capital Management LLC acquired a new stake in Rumble during the first quarter worth approximately $1,584,000. Virtu Financial LLC bought a new stake in shares of Rumble in the first quarter valued at approximately $339,000. Avantax Advisory Services Inc. bought a new position in Rumble during the 1st quarter worth $335,000. MML Investors Services LLC acquired a new stake in shares of Rumble during the 3rd quarter worth $185,000. Finally, Janus Henderson Group PLC bought a new position in shares of Rumble in the third quarter worth $184,000. Institutional investors own 26.15% of the company’s stock.

Insider Transactions at Rumble

In related news, Director Robert Arsov sold 27,500 shares of Rumble stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.57, for a total value of $153,175.00. Following the sale, the director now owns 14,824,837 shares of the company’s stock, valued at approximately $82,574,342.09. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 195,000 shares of company stock valued at $1,086,500 in the last ninety days. 72.90% of the stock is currently owned by corporate insiders.

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.