Bumble Inc. (NASDAQ:BMBL) Given Consensus Rating of “Reduce” by Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have been assigned an average rating of “Reduce” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.4583.

Several brokerages have recently issued reports on BMBL. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Bumble in a report on Friday, October 3rd. Zacks Research raised Bumble to a “hold” rating in a report on Friday, August 8th. UBS Group upped their price objective on Bumble from $6.00 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Morgan Stanley upped their price objective on Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $7.00 price objective (up from $5.00) on shares of Bumble in a report on Monday, August 11th.

Insider Activity at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction 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 is accessible through this hyperlink. Also, major shareholder – Nq L.L.C. Btoa sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,127,359 shares of company stock worth $426,476,076 in the last ninety days. Corporate insiders own 15.84% of the company’s stock.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently bought and sold shares of BMBL. Pale Fire Capital SE purchased a new stake in Bumble in the first quarter worth $43,000. Vident Advisory LLC bought a new position in shares of Bumble during the 1st quarter worth $48,000. Teacher Retirement System of Texas bought a new position in shares of Bumble during the 1st quarter worth $49,000. Kestra Private Wealth Services LLC bought a new position in shares of Bumble during the 1st quarter worth $54,000. Finally, HB Wealth Management LLC bought a new position in shares of Bumble during the 1st quarter worth $62,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Price Performance

NASDAQ:BMBL opened at $5.26 on Friday. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $547.09 million, a P/E ratio of 4.70, a P/E/G ratio of 0.14 and a beta of 1.93. Bumble has a 12 month low of $3.55 and a 12 month high of $9.22. The business’s 50-day moving average is $6.09 and its 200 day moving average is $6.06.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. On average, equities research analysts forecast 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.