Bumble Inc. (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 16,689,884 Shares

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bumble Stock Performance

NASDAQ BMBL opened at $6.29 on Friday. The stock has a market cap of $654.22 million, a PE ratio of -1.29, a P/E/G ratio of 0.88 and a beta of 1.96. The company has a current ratio of 3.30, a quick ratio of 2.83 and a debt-to-equity ratio of 1.00. Bumble Inc. has a twelve month low of $3.55 and a twelve month high of $9.22. The stock has a fifty day simple moving average of $6.57 and a 200-day simple moving average of $5.80.

Bumble (NASDAQ:BMBL) last announced its earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.27. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%. The company had revenue of $248.23 million during the quarter, compared to analysts’ expectations of $243.72 million. During the same period last year, the business posted $0.22 EPS. Bumble’s revenue for the quarter was down 7.6% on a year-over-year basis. Equities analysts anticipate that Bumble Inc. will post 4.19 earnings per share for the current year.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after acquiring an additional 1,249 shares during the period. Franklin Resources Inc. boosted its holdings in Bumble by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock valued at $521,000 after acquiring an additional 1,666 shares during the period. Cerity Partners LLC boosted its holdings in Bumble by 16.7% during the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock valued at $132,000 after acquiring an additional 2,857 shares during the period. Mariner LLC boosted its holdings in Bumble by 25.3% during the 4th quarter. Mariner LLC now owns 19,415 shares of the company’s stock valued at $158,000 after acquiring an additional 3,926 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after acquiring an additional 4,000 shares during the period. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMBL has been the subject of a number of recent research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 target price on shares of Bumble in a research note on Tuesday, June 3rd. Citigroup raised their target price on Bumble from $4.80 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, June 27th. Susquehanna reaffirmed a “neutral” rating and issued a $7.00 target price (up from $5.00) on shares of Bumble in a research note on Monday, August 11th. Stifel Nicolaus cut their target price on Bumble from $6.00 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Finally, Bank of America raised their target price on Bumble from $5.25 to $5.50 and gave the stock an “underperform” rating in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.63.

Bumble Company Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.