Bumble Inc. (NASDAQ:BMBL) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Bumble Inc. (NASDAQ:BMBL) have received a consensus recommendation of “Reduce” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.4583.

Several brokerages recently weighed in on BMBL. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 target price (down previously from $8.00) on shares of Bumble in a research note on Friday, October 3rd. Citigroup boosted their target price on shares of Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a research note on Friday, June 27th. Bank of America lifted their price target on Bumble from $5.25 to $5.50 and gave the company an “underperform” rating in a report on Wednesday, July 2nd. Wells Fargo & Company restated a “positive” rating on shares of Bumble in a report on Friday, June 27th. Finally, Morgan Stanley boosted their target price on Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th.

Insider Activity

In related news, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Whitney Wolfe Herd sold 1,365,116 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $8,545,626.16. Following the transaction, the chief executive officer directly owned 1,598,258 shares in the company, valued at $10,005,095.08. This trade represents a 46.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,127,359 shares of company stock worth $426,476,076 in the last ninety days. 15.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bumble

A number of institutional investors have recently made changes to their positions in BMBL. Maple Rock Capital Partners Inc. acquired a new position in shares of Bumble in the 2nd quarter valued at approximately $30,127,000. Nordea Investment Management AB bought a new position in Bumble during the 2nd quarter worth $7,337,000. Cubist Systematic Strategies LLC grew its stake in Bumble by 3,714.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 923,093 shares of the company’s stock worth $6,083,000 after buying an additional 898,893 shares during the last quarter. Federated Hermes Inc. bought a new position in Bumble during the 1st quarter worth $3,231,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Bumble by 709.1% in the second quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company’s stock worth $4,704,000 after purchasing an additional 625,631 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Price Performance

Bumble stock opened at $5.07 on Monday. Bumble has a one year low of $3.55 and a one year high of $9.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.30 and a current ratio of 3.30. The business has a fifty day moving average of $6.47 and a two-hundred day moving average of $5.86. The company has a market cap of $527.33 million, a P/E ratio of -1.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.94.

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

About Bumble

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.