Bumble (NASDAQ:BMBL) Major Shareholder Sells $9,782,825.40 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the transaction, the insider owned 13,733 shares in the company, valued at $48,614.82. The trade was a 99.51% decrease in their position. The sale was disclosed in a 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 sales and purchases with the SEC.

Buzz Holdings L.P. Bcp also recently made the following trade(s):

• On Monday, September 28th, Buzz Holdings L.P. Bcp sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Stock Up 0.2%

NASDAQ:BMBL opened at $5.94 on Friday. Bumble Inc. has a 1-year low of $2.44 and a 1-year high of $5.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $783.90 million, a P/E ratio of -1.40 and a beta of 1.88. The company’s fifty day moving average price is $3.03 and its 200-day moving average price is $3.18.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). The company had revenue of $210.53 million during 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 quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.45) EPS. As a group, equities research analysts anticipate that Bumble Inc. will post -0.08 EPS for the current year.

Institutional Trading of Bumble

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Accel Growth Fund V Associates L.L.C. acquired a new position in Bumble during the second quarter worth about $16,174,499. Renaissance Technologies LLC grew its holdings in Bumble by 48.6% during the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock valued at $13,737,000 after buying an additional 1,378,487 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Bumble during the first quarter valued at $2,039,000. Principal Financial Group Inc. raised its position in shares of Bumble by 314.5% in the first quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock valued at $1,986,000 after buying an additional 462,251 shares during the last quarter. Finally, RBF Capital LLC grew its stake in Bumble by 86.9% in the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock worth $3,154,000 after acquiring an additional 449,866 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble News Summary

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca acquisition sets a defined exit value: Ithaca Holdco, the long-term holding company for technology businesses, has proposed acquiring Bumble for $6.05 per Class A share in cash. The offer represents an approximately 138% premium to Bumble’s unaffected October 9 closing price and would take the company private. Bumble acquisition announcement
• Positive Sentiment: Merger premium has driven the repricing: The transaction offers investors a substantial premium and limits exposure to Bumble’s standalone challenges, including declining revenue and paying-user pressure. The stock’s proximity to $6.05 suggests investors are largely valuing it on merger completion rather than future operating results. Reuters Bumble take-private report

Analyst Upgrades and Downgrades

BMBL has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. The Goldman Sachs Group cut their price target on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. UBS Group lifted their price target on Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Susquehanna cut their price target 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 investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.12.

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.