What is Wedbush’s Estimate for Rumble FY2024 Earnings?

Rumble Inc. (NASDAQ:RUM) – Research analysts at Wedbush reduced their FY2024 EPS estimates for shares of Rumble in a research note issued to investors on Wednesday, November 13th. Wedbush analyst S. Devitt now anticipates that the company will earn ($0.60) per share for the year, down from their previous estimate of ($0.53). Wedbush has a “Neutral” rating and a $8.00 price objective 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 Down 5.1 %

Shares of Rumble stock opened at $5.61 on Friday. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -8.90 and a beta of 0.72. Rumble has a twelve month low of $3.33 and a twelve month high of $9.20. The company’s fifty day moving average is $5.62 and its 200 day moving average is $6.02.

Insider Buying and Selling at Rumble

In other Rumble news, Director Robert Arsov sold 27,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.59, for a total transaction of $153,725.00. Following the sale, the director now owns 14,769,837 shares of the company’s stock, valued at approximately $82,563,388.83. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 195,000 shares of company stock worth $1,086,500. Insiders own 72.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Redwood Wealth Management Group LLC bought a new position in shares of Rumble during the 2nd quarter worth about $30,000. Coppell Advisory Solutions Corp. acquired a new stake in Rumble in the 1st quarter valued at $81,000. Bank of New York Mellon Corp bought a new stake in Rumble during the 2nd quarter valued at $66,000. SG Americas Securities LLC bought a new position in shares of Rumble in the second quarter valued at $67,000. Finally, Barclays PLC lifted its position in Rumble by 663.9% in the 3rd quarter. Barclays PLC now owns 13,559 shares of the company’s stock valued at $72,000 after acquiring an additional 11,784 shares in the last quarter. 26.15% of the stock is 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.