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

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 3,767,776 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the sale, the insider owned 16,120 shares of the company’s stock, valued at approximately $47,392.80. This trade represents a 99.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $2.54 on Friday. The firm’s 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $3.15. Bumble Inc. has a 1-year low of $2.49 and a 1-year high of $6.01. The company has a market capitalization of $335.20 million, a P/E ratio of -0.60 and a beta of 1.88. 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) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($1.09). Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.The business had revenue of $210.53 million during the quarter, compared to the consensus estimate of $210.46 million. During the same quarter in the prior year, the firm posted ($2.45) EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Research analysts expect that Bumble Inc. will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMBL has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. The Goldman Sachs Group cut their price objective on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada lowered their target price on Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Finally, Susquehanna dropped their price objective on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.87.

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its stake in Bumble by 10.1% during the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock valued at $165,000 after buying an additional 4,746 shares in the last quarter. Abel Hall LLC lifted its holdings in Bumble by 49.4% in the first quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock worth $57,000 after purchasing an additional 5,793 shares during the period. 180 Wealth Advisors LLC increased its stake in Bumble by 7.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 95,699 shares of the company’s stock valued at $306,000 after buying an additional 6,455 shares during the period. Krilogy Financial LLC boosted its stake in Bumble by 78.0% during the 1st quarter. Krilogy Financial LLC now owns 22,088 shares of the company’s stock valued at $72,000 after purchasing an additional 9,678 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in Bumble during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

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.