Bumble (NASDAQ:BMBL) Major Shareholder Buzz Holdings L.P. Bcp Sells 2,763,510 Shares of Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $48,614.82. This trade represents a 99.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Buzz Holdings L.P. Bcp also recently made the following trade(s):

• On Monday, September 28th, Buzz Holdings L.P. Bcp sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Price Performance

Shares of BMBL stock opened at $5.97 on Thursday. 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 Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. The firm has a market cap of $787.86 million, a P/E ratio of -1.41 and a beta of 1.88. The business’s 50 day moving average price is $2.90 and its 200-day moving average price is $3.14.

Bumble (NASDAQ:BMBL) last announced its 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). The business had revenue of $210.53 million for the quarter, compared to the consensus estimate of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. Bumble’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.45) EPS. On average, equities research analysts anticipate that Bumble Inc. will post -0.08 earnings per share for the current year.

Key Headlines Impacting Bumble

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

BMBL has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their price objective 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 dropped their target price on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Wall Street Zen lowered shares of Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. UBS Group lifted their target price on shares of Bumble from $3.00 to $6.05 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $4.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in shares of Bumble by 10.1% during the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock valued at $165,000 after purchasing an additional 4,746 shares in the last quarter. Abel Hall LLC grew its stake in Bumble by 49.4% in the first quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock worth $57,000 after purchasing an additional 5,793 shares during the period. 180 Wealth Advisors LLC grew its stake in Bumble by 7.2% in the second quarter. 180 Wealth Advisors LLC now owns 95,699 shares of the company’s stock worth $306,000 after purchasing an additional 6,455 shares during the period. Krilogy Financial LLC grew its stake in Bumble by 78.0% in the first quarter. Krilogy Financial LLC now owns 22,088 shares of the company’s stock worth $72,000 after purchasing an additional 9,678 shares during the period. Finally, HB Wealth Management LLC bought a new position in Bumble in the first quarter worth $34,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.