Bumble (NASDAQ:BMBL) Major Shareholder Bx Buzz Ml-1 Gp Llc Sells 2,763,510 Shares of Company Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Bx Buzz Ml-1 Gp Llc sold 2,763,510 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the sale, the insider directly owned 13,733 shares of the company’s stock, valued at approximately $48,614.82. The trade was a 99.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Bx Buzz Ml-1 Gp Llc also recently made the following trade(s):

• On Monday, September 28th, Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Price Performance

Shares of Bumble stock opened at $5.97 on Thursday. The stock’s fifty day moving average is $2.90 and its 200 day moving average is $3.14. Bumble Inc. has a one year low of $2.44 and a one year high of $5.98. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market cap of $787.86 million, a P/E ratio of -1.41 and a beta of 1.88.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%. The company had revenue of $210.53 million during the quarter, compared to analysts’ expectations of $210.46 million. During the same quarter in the previous year, the company earned ($2.45) EPS. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Bumble Inc. will post -0.08 earnings per share for the current year.

Key Stories Impacting Bumble

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca will pay Bumble shareholders $6.05 per Class A share, representing an approximately 138% premium to Bumble’s unaffected October 9 closing price. The transaction provides a defined cash-exit value and would take Bumble private. Bumble acquisition announcement
• Positive Sentiment: The announced premium has driven a major repricing in BMBL, with reports describing the stock as up roughly 138% for the week. The deal also reduces investor exposure to Bumble’s ongoing turnaround challenges, including weak user engagement and declining paying users. Reuters Bumble take-private report
• Neutral Sentiment: BMBL is trading close to the proposed $6.05 consideration, leaving only a relatively small spread for investors. Further upside may therefore depend on deal completion rather than Bumble’s standalone operating performance. The transaction remains subject to customary closing conditions and shareholder approval. Yahoo Finance acquisition report
• Negative Sentiment: Several law firms, including Bleichmar Fonti & Auld, Kahn Swick & Foti, and Ademi, have announced investigations into whether the $6.05 price and sale process fairly value Bumble and adequately protect shareholders. These announcements are typically investor solicitations and do not establish wrongdoing, but they could create litigation, delay, or additional uncertainty around the merger. BFA Law Bumble investigation

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Accel Growth Fund V Associates L.L.C. bought a new position in shares of Bumble in the second quarter worth about $16,174,499. Renaissance Technologies LLC grew its position in shares of Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after purchasing an additional 1,378,487 shares in the last quarter. Bank of America Corp DE raised its stake 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 purchasing an additional 274,548 shares during the period. RBF Capital LLC raised its stake 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 purchasing an additional 449,866 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in Bumble during the 1st quarter valued at approximately $2,039,000. 94.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BMBL shares. Wall Street Zen lowered shares of Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, June 25th. The Goldman Sachs Group lowered their price target on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, August 6th. UBS Group upped their price target on shares of Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Royal Bank Of Canada reduced their price objective on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $4.12.

About Bumble

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.