Bumble (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 7,477,500 Shares

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Bumble Price Performance

NASDAQ:BMBL opened at $2.96 on Friday. The stock has a market capitalization 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 1-year low of $2.61 and a 1-year high of $8.64. The firm has a fifty day simple moving average of $3.45 and a 200 day simple moving average of $3.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.58.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BMBL shares. Wall Street Zen lowered shares of Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. UBS Group boosted their price objective on shares of Bumble from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of Bumble from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. JPMorgan Chase & Co. raised shares of Bumble from an “underweight” rating to a “neutral” rating in a report on Thursday, March 12th. Finally, Wells Fargo & Company dropped their price target on shares of Bumble from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Bumble has an average rating of “Reduce” and a consensus price target of $4.33.

Institutional Investors Weigh In On Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Bumble by 52.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock valued at $67,989,000 after purchasing an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. lifted its position in shares of Bumble by 52.6% during the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after buying an additional 1,838,923 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 1,378,487 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Bumble in the third quarter valued at about $6,013,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Bumble in the fourth quarter valued at about $3,516,000. 94.85% of the stock is currently owned by institutional investors.

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.