Rumble (NASDAQ:RUM) Earns Buy Rating from Analysts at Maxim Group

Equities research analysts at Maxim Group initiated coverage on shares of Rumble (NASDAQ:RUM) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Maxim Group’s target price suggests a potential upside of 63.27% from the stock’s previous close.

Separately, Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Rumble in a research note on Wednesday, November 13th.

Rumble Trading Up 12.6 %

Shares of Rumble stock opened at $12.25 on Wednesday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -19.44 and a beta of 0.52. The firm’s 50 day simple moving average is $9.09 and its two-hundred day simple moving average is $6.96. Rumble has a 12-month low of $3.37 and a 12-month high of $17.40.

Rumble (NASDAQ:RUM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The company had revenue of $25.06 million during the quarter, compared to analyst estimates of $29.25 million. During the same period last year, the firm earned ($0.14) EPS. On average, sell-side analysts predict that Rumble will post -0.62 EPS for the current fiscal year.

Insider Transactions at Rumble

In other news, Director Robert Arsov sold 27,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.69, for a total transaction of $156,475.00. Following the sale, the director now owns 12,577,337 shares of the company’s stock, valued at approximately $71,565,047.53. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 114,988 shares of company stock valued at $701,617. 72.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rumble

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Rumble by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,035,718 shares of the company’s stock valued at $5,553,000 after acquiring an additional 130,956 shares during the period. MML Investors Services LLC purchased a new stake in Rumble during the third quarter worth about $185,000. Janus Henderson Group PLC purchased a new stake in shares of Rumble during the 3rd quarter worth approximately $184,000. Charles Schwab Investment Management Inc. boosted its position in Rumble by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,317 shares of the company’s stock worth $2,564,000 after purchasing an additional 24,879 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Rumble by 995.3% in the third quarter. FMR LLC now owns 22,387 shares of the company’s stock valued at $120,000 after purchasing an additional 20,343 shares in the last quarter. 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.