Bumble (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 7,477,504 Shares

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 7,477,504 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the sale, the insider owned 25,832 shares in the company, valued at approximately $90,670.32. This trade represents a 99.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Bumble Price Performance

Shares of NASDAQ BMBL traded down $0.04 during mid-day trading on Thursday, reaching $3.74. 3,267,159 shares of the company were exchanged, compared to its average volume of 6,282,907. Bumble Inc. has a 52 week low of $2.61 and a 52 week high of $8.64. The company’s 50 day moving average price is $3.28 and its 200 day moving average price is $4.32. The stock has a market capitalization of $421.65 million, a PE ratio of -0.62, a PEG ratio of 0.13 and a beta of 1.96. The company has a quick ratio of 3.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.86.

Institutional Investors Weigh In On Bumble

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Bumble by 52.0% during the 3rd quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock valued at $67,989,000 after buying an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. lifted its position in Bumble by 52.6% during the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock valued at $19,055,000 after acquiring an additional 1,838,923 shares during the period. Dimensional Fund Advisors LP boosted its stake in Bumble by 10.6% during the third 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 in the last quarter. Maple Rock Capital Partners Inc. bought a new stake in Bumble during the second quarter worth about $30,127,000. Finally, Renaissance Technologies LLC grew its holdings in Bumble by 9.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,835,400 shares of the company’s stock worth $10,122,000 after purchasing an additional 251,114 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BMBL shares. Morgan Stanley boosted their target price on Bumble from $3.50 to $4.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $5.00 target price on shares of Bumble in a research note on Thursday, March 12th. Wells Fargo & Company reduced their price target on Bumble from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Susquehanna reiterated a “neutral” rating and issued a $3.50 price objective on shares of Bumble in a research report on Thursday, March 12th. Finally, UBS Group restated a “neutral” rating and issued a $4.00 target price on shares of Bumble in a report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Bumble presently has an average rating of “Reduce” and an average target price of $4.34.

Bumble Company Profile

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.