Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells 2,763,510 Shares of Company Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 13,733 shares in the company, valued at approximately $48,614.82. The trade was a 99.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Buzz Holdings L.P. Bcp also recently made the following trade(s):

• On Monday, September 28th, Buzz Holdings L.P. Bcp sold 3,767,776 shares of Bumble stock. The shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44.

Bumble Trading Up 0.3%

BMBL traded up $0.02 during trading on Wednesday, reaching $5.97. 39,295,089 shares of the company’s stock were exchanged, compared to its average volume of 9,838,894. The company’s fifty day moving average price is $2.85 and its 200-day moving average price is $3.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62. Bumble Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. The firm has a market capitalization of $787.86 million, a PE ratio of 2.69 and a beta of 1.88.

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

Institutional Trading of Bumble

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC boosted its position in shares of Bumble by 10.1% during the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock worth $165,000 after buying an additional 4,746 shares during the period. L2 Asset Management LLC acquired a new stake in Bumble in the 2nd quarter valued at approximately $42,000. Globeflex Capital L P acquired a new stake in Bumble in the 2nd quarter valued at approximately $70,000. Accel Growth Fund V Associates L.L.C. bought a new stake in Bumble in the 2nd quarter valued at approximately $16,174,499. Finally, Bank of New York Mellon Corp bought a new stake in Bumble in the 2nd quarter valued at approximately $1,035,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble News Roundup

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

Analyst Ratings Changes

BMBL has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Wells Fargo & Company lowered their target price on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. Susquehanna reduced their price target on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. UBS Group lifted their target price on Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $4.12.

Bumble Company Profile

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.