Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells 2,763,510 Shares of Company Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Bx Buzz Ml-1 Gp Llc sold 2,763,510 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the sale, the insider directly owned 13,733 shares in the company, valued at approximately $48,614.82. This trade represents a 99.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

Bx Buzz Ml-1 Gp Llc also recently made the following trade(s):

• On Monday, September 28th, Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Bumble stock. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Stock Performance

NASDAQ:BMBL traded up $0.02 during trading hours on Wednesday, reaching $5.97. The company had a trading volume of 39,295,089 shares, compared to its average volume of 9,838,894. Bumble Inc. has a 1-year low of $2.44 and a 1-year high of $5.98. The firm has a market cap of $787.86 million, a PE ratio of 2.69 and a beta of 1.88. The business’s 50 day moving average price is $2.85 and its 200-day moving average price is $3.13. 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 posted its earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.09). The firm had revenue of $210.53 million during the quarter, compared to analyst estimates of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.45) earnings per share. Research analysts forecast that Bumble Inc. will post -0.08 EPS for the current year.

Institutional Trading of Bumble

Institutional investors have recently modified their holdings of the stock. Accel Growth Fund V Associates L.L.C. purchased a new position in Bumble in the 2nd quarter valued at about $16,174,499. Renaissance Technologies LLC boosted its holdings in Bumble by 48.6% in the 1st 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 last quarter. Pacer Advisors Inc. purchased a new stake in Bumble during the 1st quarter worth approximately $2,039,000. Principal Financial Group Inc. increased its stake in Bumble by 314.5% during the 1st quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock worth $1,986,000 after buying an additional 462,251 shares in the last quarter. Finally, RBF Capital LLC raised 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 acquiring an additional 449,866 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Wall Street Zen lowered Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial restated a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. Royal Bank Of Canada cut their price objective on Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reduced their target price on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $4.12.

Bumble News Roundup

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca will pay Bumble shareholders $6.05 per Class A share, representing an approximately 138% premium to Bumble’s unaffected October 9 closing price. The transaction provides a defined cash-exit value and would take Bumble private. Bumble acquisition announcement
• Positive Sentiment: The announced premium has driven a major repricing in BMBL, with reports describing the stock as up roughly 138% for the week. The deal also reduces investor exposure to Bumble’s ongoing turnaround challenges, including weak user engagement and declining paying users. Reuters Bumble take-private report
• Neutral Sentiment: BMBL is trading close to the proposed $6.05 consideration, leaving only a relatively small spread for investors. Further upside may therefore depend on deal completion rather than Bumble’s standalone operating performance. The transaction remains subject to customary closing conditions and shareholder approval. Yahoo Finance acquisition report
• Negative Sentiment: Several law firms, including Bleichmar Fonti & Auld, Kahn Swick & Foti, and Ademi, have announced investigations into whether the $6.05 price and sale process fairly value Bumble and adequately protect shareholders. These announcements are typically investor solicitations and do not establish wrongdoing, but they could create litigation, delay, or additional uncertainty around the merger. BFA Law Bumble investigation

Bumble Company Profile

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.