Bumble (NASDAQ:BMBL) Major Shareholder Sells $11,077,261.44 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 3,767,776 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider directly owned 16,120 shares in the company, valued at $47,392.80. This represents a 99.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Bumble Stock Performance

NASDAQ:BMBL opened at $2.54 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. Bumble Inc. has a twelve month low of $2.49 and a twelve month high of $6.01. The company has a fifty day moving average of $2.82 and a 200-day moving average of $3.15. The firm has a market capitalization of $335.20 million, a P/E ratio of -0.60 and a beta of 1.88.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.The company had revenue of $210.53 million during the quarter, compared to analyst estimates of $210.46 million. During the same quarter in the previous year, the business posted ($2.45) earnings per share. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bumble Inc. will post -0.08 EPS for the current year.

Analysts Set New Price Targets

BMBL has been the subject of a number of analyst reports. Wall Street Zen downgraded Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Raymond James Financial reissued a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a report on Tuesday, August 4th. Susquehanna cut their target price on Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Finally, UBS Group decreased their price target on Bumble from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $3.87.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently modified their holdings of BMBL. Accel Growth Fund V Associates L.L.C. bought a new stake in shares of Bumble in the 2nd quarter worth approximately $16,174,499. Renaissance Technologies LLC lifted its stake in shares of Bumble by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock valued at $13,737,000 after purchasing an additional 1,378,487 shares during the period. Bank of America Corp DE lifted its stake in shares of Bumble by 16.7% in the 1st quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock valued at $6,241,000 after purchasing an additional 274,548 shares during the period. RBF Capital LLC boosted its position in shares of Bumble by 86.9% during the first quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after purchasing an additional 449,866 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Bumble in the first quarter worth $2,039,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.