Bumble (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 7,477,500 Shares of Stock

by · The Markets Daily

Bumble Inc. (NASDAQ:BMBL – Get Free Report) major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% 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.

Bumble Stock Performance

NASDAQ BMBL remained flat at $2.96 during trading hours on Thursday. 6,144,114 shares of the company’s stock were exchanged, compared to its average volume of 2,910,568. The firm has a fifty day moving average price of $3.45 and a 200-day moving average price of $3.41. Bumble Inc. has a 52 week low of $2.61 and a 52 week high of $8.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $384.27 million, a PE ratio of -0.51, a P/E/G ratio of 0.10 and a beta of 1.89.

Bumble (NASDAQ:BMBL – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $212.38 million during the quarter, compared to analysts’ expectations of $211.59 million. Bumble had a negative net margin of 72.04% and a positive return on equity of 32.66%. The business’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. As a group, sell-side analysts predict that Bumble Inc. will post 0.99 EPS for the current year.

Institutional Trading of Bumble

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Bumble by 52.0% during the 3rd quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock worth $67,989,000 after purchasing an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. grew its position in shares of Bumble by 52.6% during the fourth quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after buying an additional 1,838,923 shares in the last quarter. Renaissance Technologies LLC increased its stake 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 buying an additional 1,378,487 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Bumble in the third quarter valued at approximately $6,013,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Bumble in the fourth quarter worth approximately $3,516,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMBL. BTIG Research restated a “neutral” rating on shares of Bumble in a research note on Monday, March 16th. Bank of America dropped their price objective on Bumble from $3.50 to $3.30 and set an “underperform” rating for the company in a research note on Thursday, March 12th. Weiss Ratings lowered Bumble from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. TD Cowen restated a “hold” rating and set a $5.00 target price on shares of Bumble in a report on Thursday, March 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Bumble in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $4.33.

Read Our Latest Analysis on BMBL

About Bumble

(Get Free Report)

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.

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