Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells $9,782,825.40 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder – Nq L.L.C. Btoa sold 2,763,510 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the sale, the insider owned 13,733 shares in the company, valued at $48,614.82. The trade was a 99.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

– Nq L.L.C. Btoa also recently made the following trade(s):

• On Monday, September 28th, – Nq L.L.C. Btoa sold 3,767,776 shares of Bumble stock. The shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44.

Bumble Stock Performance

Shares of BMBL traded up $0.02 during trading hours on Wednesday, hitting $5.97. The stock had a trading volume of 39,295,089 shares, compared to its average volume of 9,838,894. The firm has a 50-day moving average price of $2.85 and a 200 day moving average price of $3.13. Bumble Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. The firm has a market capitalization of $787.86 million, a price-to-earnings ratio of 2.69 and a beta of 1.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62.

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

More Bumble News

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca will pay Bumble shareholders $6.05 per Class A share, representing an approximately 138% premium to Bumble’s unaffected October 9 closing price. The transaction provides a defined cash-exit value and would take Bumble private. Bumble acquisition announcement
• Positive Sentiment: The announced premium has driven a major repricing in BMBL, with reports describing the stock as up roughly 138% for the week. The deal also reduces investor exposure to Bumble’s ongoing turnaround challenges, including weak user engagement and declining paying users. Reuters Bumble take-private report
• Neutral Sentiment: BMBL is trading close to the proposed $6.05 consideration, leaving only a relatively small spread for investors. Further upside may therefore depend on deal completion rather than Bumble’s standalone operating performance. The transaction remains subject to customary closing conditions and shareholder approval. Yahoo Finance acquisition report
• Negative Sentiment: Several law firms, including Bleichmar Fonti & Auld, Kahn Swick & Foti, and Ademi, have announced investigations into whether the $6.05 price and sale process fairly value Bumble and adequately protect shareholders. These announcements are typically investor solicitations and do not establish wrongdoing, but they could create litigation, delay, or additional uncertainty around the merger. BFA Law Bumble investigation

Analyst Ratings Changes

Several brokerages recently weighed in on BMBL. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Royal Bank Of Canada dropped their price objective on Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Wells Fargo & Company dropped their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Susquehanna reduced their price objective on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, June 25th. 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. According to MarketBeat, Bumble presently has an average rating of “Reduce” and an average target price of $4.12.

Institutional Investors Weigh In On Bumble

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

Bumble Company Profile

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.