Brokerages Set Bumble Inc. (NASDAQ:BMBL) PT at $3.87

Shares of Bumble Inc. (NASDAQ:BMBL) have been given an average recommendation of “Reduce” by the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.8667.

Several research firms recently issued reports on BMBL. Wall Street Zen cut shares of Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada reduced their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company decreased their target price on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group dropped their price target on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Finally, Susquehanna cut their price target on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, August 7th.

Insider Transactions at Bumble

In related news, major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm’s 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 sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,954,026 shares of company stock valued at $113,182,633 in the last ninety days. 15.35% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently modified their holdings of BMBL. Wexford Capital LP purchased a new stake in Bumble in the 3rd quarter valued at about $31,000. EFG International AG acquired a new stake in shares of Bumble in the fourth quarter valued at $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Bumble in the 4th quarter valued at $36,000. StoneX Group Inc. purchased a new stake in shares of Bumble in the 4th quarter valued at $36,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Bumble during the 4th quarter worth about $37,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Up 0.7%

Shares of NASDAQ:BMBL opened at $2.73 on Thursday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $2.92 and a two-hundred day moving average of $3.19. The stock has a market cap of $360.28 million, a P/E ratio of -0.65, a PEG ratio of 0.15 and a beta of 1.87. Bumble has a 52-week low of $2.54 and a 52-week high of $7.32.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of $0.25 by ($1.09). The company had revenue of $210.53 million for the quarter, compared to analysts’ expectations of $210.46 million. Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.The firm’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.45) EPS. On average, research analysts expect that Bumble will post 0.62 earnings per share for the current year.

About Bumble

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.