Bumble (NASDAQ:BMBL) Major Shareholder Sells $11,077,261.44 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider owned 16,120 shares in the company, valued at $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Bumble Stock Performance

NASDAQ BMBL opened at $2.54 on Friday. 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 Inc. has a 1-year low of $2.49 and a 1-year high of $6.01. The business has a 50 day simple moving average of $2.82 and a two-hundred day simple moving average of $3.15. The stock has a market capitalization of $335.20 million, a PE ratio of -0.60 and a beta of 1.88.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (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 positive return on equity of 35.88% and a negative net margin of 58.99%.Bumble’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the business posted ($2.45) earnings per share. On average, research analysts predict that Bumble Inc. will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

BMBL has been the subject of several recent analyst reports. UBS Group lowered their price target on Bumble from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Susquehanna decreased their price target on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Bumble in a report on Tuesday, August 4th. The Goldman Sachs Group dropped their target price on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Finally, Royal Bank Of Canada dropped their price target on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bumble presently has an average rating of “Reduce” and a consensus price target of $3.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMBL. Headlands Technologies LLC boosted its position in Bumble by 10.1% during the 2nd 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 during the period. L2 Asset Management LLC bought a new position in shares of Bumble in the second quarter worth $42,000. Globeflex Capital L P bought a new position in shares of Bumble in the second quarter worth $70,000. Accel Growth Fund V Associates L.L.C. acquired a new position in shares of Bumble during the second quarter valued at $16,174,499. Finally, Bank of New York Mellon Corp bought a new stake in shares of Bumble during the second quarter valued at about $1,035,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

About Bumble

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.