Bumble Inc. (NASDAQ:BMBL) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Bumble Inc. has received a consensus recommendation of "Hold" from fifteen analysts, with an average 1-year price target of $6.6250.
• Recent insider transactions saw major shareholders selling over 16 million shares at an average price of $6.26, totaling around $104.5 million.
• Despite a 7.6% year-over-year decline in quarterly revenue, Bumble reported an EPS of $0.64, exceeding analysts' expectations.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) has been assigned an average rating of "Hold" from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.6250.

Several research analysts have commented on the company. Citigroup boosted their target price on Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $5.00 price objective on shares of Bumble in a research report on Tuesday, June 3rd. Morgan Stanley increased their price objective on shares of Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Susquehanna reaffirmed a "neutral" rating and set a $7.00 target price (up previously from $5.00) on shares of Bumble in a research note on Monday, August 11th. Finally, Royal Bank Of Canada upped their price target on shares of Bumble from $7.00 to $7.50 and gave the stock an "outperform" rating in a report on Thursday, August 7th.

Insider Transactions at Bumble

In related news, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder - Nq L.L.C. Btoa sold 16,689,884 shares of Bumble stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,124,652 shares of company stock valued at $426,460,322. 15.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bumble

Several large investors have recently modified their holdings of BMBL. Pale Fire Capital SE acquired a new stake in Bumble in the first quarter valued at $43,000. Spire Wealth Management acquired a new position in Bumble during the 2nd quarter worth about $71,000. Vident Advisory LLC bought a new stake in shares of Bumble in the 1st quarter valued at about $48,000. Tower Research Capital LLC TRC increased its stake in shares of Bumble by 182.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,117 shares of the company's stock valued at $73,000 after buying an additional 7,185 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Bumble during the first quarter worth about $49,000. Institutional investors own 94.85% of the company's stock.

Bumble Price Performance

NASDAQ BMBL traded down $0.10 on Thursday, hitting $6.91. 2,361,021 shares of the company's stock were exchanged, compared to its average volume of 3,318,379. The stock has a 50-day moving average of $6.88 and a 200-day moving average of $5.68. The stock has a market cap of $718.71 million, a price-to-earnings ratio of -1.41, a P/E/G ratio of 0.98 and a beta of 1.95. Bumble has a 52 week low of $3.55 and a 52 week high of $9.22. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.00.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.27. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The company had revenue of $248.23 million for the quarter, compared to analyst estimates of $243.72 million. During the same quarter last year, the company posted $0.22 EPS. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. Analysts expect that Bumble will post 4.19 earnings per share for the current year.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.