Bumble (NASDAQ:BMBL) Shares Gap Down Following Analyst Downgrade

Bumble Inc. (NASDAQ:BMBL) gapped down before the market opened on Friday after The Goldman Sachs Group downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $6.04, but opened at $5.79. The Goldman Sachs Group now has a $7.00 price target on the stock. Bumble shares last traded at $5.84, with a volume of 521,983 shares changing hands.

Several other analysts have also issued reports on BMBL. UBS Group boosted their price target on Bumble from $6.00 to $7.50 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Bank of America boosted their price objective on Bumble from $5.25 to $5.50 and gave the company an “underperform” rating in a research note on Wednesday, July 2nd. Citigroup increased their target price on shares of Bumble from $4.80 to $7.00 and gave the stock a “neutral” rating in a report on Friday, June 27th. Susquehanna reaffirmed a “neutral” rating and set a $7.00 price target (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Bumble in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Bumble currently has an average rating of “Reduce” and a consensus price target of $6.46.

Insider Activity

In other news, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,124,652 shares of company stock valued at $426,460,322. 15.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pale Fire Capital SE bought a new position in shares of Bumble during the first quarter valued at approximately $43,000. Vident Advisory LLC acquired a new stake in Bumble in the first quarter valued at approximately $48,000. Teacher Retirement System of Texas acquired a new stake in Bumble in the first quarter valued at approximately $49,000. Tyche Wealth Partners LLC acquired a new stake in shares of Bumble in the 1st quarter worth $52,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in Bumble in the first quarter worth about $54,000. 94.85% of the stock is currently owned by institutional investors.

Bumble Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30. The firm has a market cap of $609.50 million, a price-to-earnings ratio of -1.20, a P/E/G ratio of 0.82 and a beta of 1.94. The firm has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $5.84.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The business had revenue of $248.23 million during the quarter, compared to the consensus estimate of $243.72 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts expect that Bumble Inc. will post 4.19 EPS for the current year.

Bumble Company Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.