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

Bumble Inc. (NASDAQ:BMBL) major shareholder Bx Buzz Ml-1 Gp Llc sold 2,763,510 shares of the business’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the transaction, the insider owned 13,733 shares in the company, valued at $48,614.82. This trade represents a 99.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bx Buzz Ml-1 Gp Llc also recently made the following trade(s):

• On Monday, September 28th, Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $5.94 on Friday. The firm has a market cap of $783.90 million, a price-to-earnings ratio of -1.40 and a beta of 1.88. Bumble Inc. has a 52 week low of $2.44 and a 52 week high of $5.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62. The business’s 50-day simple moving average is $3.03 and its 200-day simple moving average is $3.18.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $210.53 million for the quarter, compared to analyst estimates of $210.46 million. During the same period in the prior year, the firm posted ($2.45) EPS. Bumble’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, equities research analysts expect that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Bumble

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in Bumble by 314.5% in the 1st quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock valued at $1,986,000 after acquiring an additional 462,251 shares during the period. RBF Capital LLC grew its holdings in Bumble by 86.9% in the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after buying an additional 449,866 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after buying an additional 1,378,487 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Bumble in the first quarter valued at about $2,039,000. Finally, Accel Growth Fund V Associates L.L.C. acquired a new stake in Bumble in the 2nd quarter worth about $16,174,499. 94.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMBL. Susquehanna reduced their target price on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada reduced their price target on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company reduced their target price on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Raymond James Financial reissued a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $4.12.

Key Headlines Impacting Bumble

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca acquisition sets a defined exit value: Ithaca Holdco, the long-term holding company for technology businesses, has proposed acquiring Bumble for $6.05 per Class A share in cash. The offer represents an approximately 138% premium to Bumble’s unaffected October 9 closing price and would take the company private. Bumble acquisition announcement
• Positive Sentiment: Merger premium has driven the repricing: The transaction offers investors a substantial premium and limits exposure to Bumble’s standalone challenges, including declining revenue and paying-user pressure. The stock’s proximity to $6.05 suggests investors are largely valuing it on merger completion rather than future operating results. Reuters Bumble take-private report

About Bumble

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.