Bumble (NASDAQ:BMBL) Major Shareholder – Nq L.L.C. Btoa Sells 7,477,500 Shares

Bumble Inc. (NASDAQ:BMBL) major shareholder – Nq L.L.C. Btoa sold 7,477,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares in the company, valued at $73,233.72. The trade was a 99.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $2.96 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $3.41. The company has a market cap of $384.27 million, a PE ratio of -0.51, a P/E/G ratio of 0.10 and a beta of 1.89. Bumble Inc. has a 12-month low of $2.61 and a 12-month high of $8.64.

Bumble (NASDAQ:BMBL) last posted its earnings results on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $212.38 million for the quarter, compared to analysts’ expectations of $211.59 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue was down 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Bumble Inc. will post 0.99 EPS for the current year.

Hedge Funds Weigh In On Bumble

A number of institutional investors have recently modified their holdings of BMBL. Vanguard Group Inc. lifted its stake in shares of Bumble by 52.0% in the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock worth $67,989,000 after buying an additional 3,820,205 shares during the last quarter. Saba Capital Management L.P. raised its holdings in Bumble by 52.6% in the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after acquiring an additional 1,838,923 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bumble by 10.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,882,350 shares of the company’s stock worth $29,735,000 after acquiring an additional 466,646 shares during the period. Renaissance Technologies LLC lifted its position in Bumble by 48.6% during the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after acquiring an additional 1,378,487 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Bumble by 36.2% during the 3rd quarter. Bank of America Corp DE now owns 2,528,128 shares of the company’s stock worth $15,396,000 after acquiring an additional 671,907 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

Wall Street Analyst Weigh In

BMBL has been the subject of several research reports. UBS Group raised their price objective on Bumble from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Bank of America reduced their price target on shares of Bumble from $3.50 to $3.30 and set an “underperform” rating for the company in a research report on Thursday, March 12th. Wells Fargo & Company dropped their price target on shares of Bumble from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. Citigroup cut their price objective on shares of Bumble from $3.90 to $3.60 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Finally, Zacks Research raised shares of Bumble from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average 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.