Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells $28,264,950.00 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Bumble stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 Bumble stock remained flat at $2.96 on Thursday. 6,144,114 shares of the company’s stock traded hands, compared to its average volume of 2,910,568. The firm has a 50 day moving average price of $3.45 and a 200-day moving average price of $3.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.58. The company has a market cap of $384.27 million, a PE ratio of -0.51, a PEG ratio of 0.10 and a beta of 1.89. Bumble Inc. has a 52 week low of $2.61 and a 52 week high of $8.64.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. Bumble had a positive return on equity of 32.66% and a negative net margin of 72.04%.The business had revenue of $212.38 million during the quarter, compared to analysts’ expectations of $211.59 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. On average, analysts forecast that Bumble Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bumble

Several institutional investors and hedge funds have recently modified their holdings of BMBL. Cerity Partners LLC increased its stake in Bumble by 16.7% during the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock worth $132,000 after purchasing an additional 2,857 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Bumble by 19.8% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 25,822 shares of the company’s stock valued at $92,000 after buying an additional 4,270 shares in the last quarter. State of Wyoming boosted its holdings in shares of Bumble by 59.8% in the fourth quarter. State of Wyoming now owns 12,017 shares of the company’s stock valued at $43,000 after buying an additional 4,499 shares during the period. 180 Wealth Advisors LLC increased its position in shares of Bumble by 7.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 65,798 shares of the company’s stock worth $235,000 after acquiring an additional 4,832 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Bumble during the third quarter worth $31,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on BMBL shares. Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Bank of America decreased their price objective on shares of Bumble from $3.50 to $3.30 and set an “underperform” rating for the company in a report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Bumble in a research note on Monday, March 16th. Zacks Research upgraded shares of Bumble from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, TD Cowen reissued a “hold” rating and set a $5.00 price target on shares of Bumble in a research report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $4.33.

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.