Bumble (NASDAQ:BMBL) Hits New 12-Month High – Should You Buy?

Bumble Inc. (NASDAQ:BMBL)’s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $6.00 and last traded at $5.9950, with a volume of 2,280,346 shares traded. The stock had previously closed at $5.98.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna lowered their price target 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. Wall Street Zen cut shares of Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 12th. Wells Fargo & Company lowered their target price on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Finally, Royal Bank Of Canada cut their target price on Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $4.04.

Bumble Stock Performance

The business has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $3.40. The firm has a market cap of $787.85 million, a PE ratio of -1.41 and a beta of 1.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.62 and a quick ratio of 1.62.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $207.09 million for the quarter, compared to the consensus estimate of $209.61 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. Equities research analysts forecast that Bumble Inc. will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other Bumble news, major shareholder Holdings Gp Man Blackstone III sold 3,767,776 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the completion of the sale, the insider directly owned 16,120 shares of the company’s stock, valued at $47,392.80. This trade represents a 99.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Bumble stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the sale, the insider owned 16,120 shares in the company, valued at approximately $47,392.80. The trade was a 99.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,127,851 shares of company stock valued at $83,447,304 in the last 90 days. 15.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bumble

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

Bumble Company Profile

Bumble Inc is a technology company that operates online dating and social networking platforms. Its flagship Bumble app is designed to help people make romantic connections, while emphasizing user control and safety in the online dating experience.

The company also operates Badoo, a dating platform with an international user base, and offers services focused on friendship and social connections through Bumble-branded products. Its platforms provide features such as profile discovery, matching, messaging, and paid options intended to enhance users’ experiences.

Founded in 2014 by Whitney Wolfe Herd, Bumble has expanded from its initial focus on dating to a broader range of personal-connection services.