Bumble (NASDAQ:BMBL) Major Shareholder Buzz Holdings L.P. Bcp Sells 7,477,504 Shares of Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the sale, the insider owned 25,832 shares of the company’s stock, valued at $90,670.32. The trade was a 99.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Bumble Trading Down 1.1%

NASDAQ BMBL opened at $3.74 on Friday. Bumble Inc. has a one year low of $2.61 and a one year 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 company has a debt-to-equity ratio of 0.86, a quick ratio of 3.55 and a current ratio of 2.21. The firm has a market capitalization of $421.65 million, a price-to-earnings ratio of -0.62, a PEG ratio of 0.13 and a beta of 1.96.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BMBL. William Blair reaffirmed an “outperform” rating on shares of Bumble in a research report on Monday. Morgan Stanley boosted their price objective on Bumble from $3.50 to $4.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Citigroup increased their target price on Bumble from $3.80 to $3.90 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Bumble in a report on Monday. Finally, Susquehanna reiterated a “neutral” rating and set a $3.50 price objective on shares of Bumble in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $4.34.

Institutional Trading of Bumble

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Bumble by 52.0% in the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock valued at $67,989,000 after acquiring an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. increased its position in shares of 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 purchasing an additional 1,838,923 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bumble by 10.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,882,350 shares of the company’s stock valued at $29,735,000 after purchasing an additional 466,646 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new position in shares of Bumble during the second quarter worth about $30,127,000. Finally, Renaissance Technologies LLC grew its stake 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 in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.