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

by · The Cerbat Gem

Bumble Inc. (NASDAQ:BMBL – Get Free Report) major shareholder Buzz Holdings L.P. Bcp sold 3,767,776 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the completion of the sale, the insider directly owned 16,120 shares of the company’s stock, valued at approximately $47,392.80. This represents a 99.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bumble Price Performance

Shares of NASDAQ BMBL traded up $0.06 during mid-day trading on Wednesday, reaching $2.62. 2,836,024 shares of the company traded hands, compared to its average volume of 3,363,299. Bumble Inc. has a fifty-two week low of $2.49 and a fifty-two week high of $6.21. The firm has a market cap of $346.42 million, a PE ratio of -0.62 and a beta of 1.86. The stock has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $3.17. 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 (NASDAQ:BMBL – Get Free Report) 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). Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The firm had revenue of $210.53 million for the quarter, compared to the consensus estimate of $210.46 million. During the same period in the previous year, the business posted ($2.45) earnings per share. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. Equities research analysts anticipate that Bumble Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Bumble

Hedge funds have recently made changes to their positions in the company. Accel Growth Fund V Associates L.L.C. acquired a new position in Bumble in the 2nd quarter worth approximately $16,174,499. Renaissance Technologies LLC boosted its position in shares of Bumble by 48.6% in 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. Bank of America Corp DE boosted its position in shares of Bumble by 16.7% in the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock worth $6,241,000 after buying an additional 274,548 shares during the period. RBF Capital LLC grew its holdings in shares of Bumble by 86.9% during the first quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after buying an additional 449,866 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Bumble in the 1st quarter worth about $2,039,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BMBL. Wells Fargo & Company dropped their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. UBS Group lowered their price objective on shares of Bumble from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Royal Bank Of Canada dropped their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a report on Tuesday, August 4th. Finally, 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 report on Friday, August 7th. One 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 stock. According to MarketBeat.com, Bumble has an average rating of “Reduce” and a consensus price target of $3.87.

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About Bumble

(Get Free Report)

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.

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