Key Points
- Major shareholder Nq L.L.C. Btoa sold 3.77 million Bumble shares for approximately $11.1 million at an average price of $2.94, reducing its ownership by 99.57% to 16,120 shares.
- Bumble reported an adjusted quarterly loss of $0.84 per share, missing estimates by $1.09, while revenue fell 15.2% year over year to $210.5 million. The stock traded near $2.62, close to its one-year low of $2.49.
- Analyst sentiment remains weak, with a consensus rating of “Reduce” and an average price target of $3.87; most analysts rate the stock Hold, while two rate it Sell.
Bumble Inc. (NASDAQ:BMBL - Get Free Report) major shareholder - Nq L.L.C. Btoa sold 3,767,776 shares of the firm's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the sale, the insider directly owned 16,120 shares in the company, valued at $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Bumble Stock Up 2.1%
Shares of NASDAQ:BMBL opened at $2.62 on Thursday. The stock's 50-day moving average is $2.83 and its 200 day moving average is $3.17. The company has a market cap of $346.42 million, a PE ratio of -0.62 and a beta of 1.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.62 and a quick ratio of 1.62. Bumble Inc. has a 1 year low of $2.49 and a 1 year high of $6.21.
Bumble (NASDAQ:BMBL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.09). The business had revenue of $210.53 million for the quarter, compared to analysts' expectations of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. Bumble's quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the firm posted ($2.45) earnings per share. Sell-side analysts anticipate that Bumble Inc. will post -0.08 EPS for the current year.
Analyst Ratings Changes
Several brokerages have commented on BMBL. Wall Street Zen lowered shares of Bumble from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. UBS Group cut their target price on shares of Bumble from $4.50 to $3.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Royal Bank Of Canada reduced their price target on shares of Bumble from $5.00 to $4.00 and set a "sector perform" rating on the stock in a research report on Friday, August 7th. Susquehanna decreased their price target on shares of Bumble from $3.50 to $3.00 and set a "neutral" rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Bumble in a report on Tuesday, August 4th. 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 stock. Based on data from MarketBeat, Bumble has a consensus rating of "Reduce" and an average price target of $3.87.
Check Out Our Latest Analysis on BMBL
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMBL. Accel Growth Fund V Associates L.L.C. purchased a new position in Bumble during the second quarter valued at $16,174,499. Renaissance Technologies LLC increased its holdings in shares of Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company's stock valued at $13,737,000 after acquiring an additional 1,378,487 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Bumble by 16.7% during the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company's stock valued at $6,241,000 after acquiring an additional 274,548 shares in the last quarter. RBF Capital LLC raised its position in shares of 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 purchasing an additional 449,866 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Bumble in the 1st quarter worth about $2,039,000. Institutional investors own 94.85% of the company's stock.
Bumble Company Profile
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Get Free Report)
Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.
The company's products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.
Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.
Further Reading
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