Bumble Inc. (NASDAQ:BMBL) Given Average 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.

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have been given a consensus recommendation of "Hold" by the fifteen analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.6250.

A number of research firms recently weighed in on BMBL. Bank of America increased their price target on Bumble from $5.25 to $5.50 and gave the company an "underperform" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company restated a "positive" rating on shares of Bumble in a research note on Friday, June 27th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $5.00 price target on shares of Bumble in a research note on Tuesday, June 3rd. Susquehanna reissued a "neutral" rating and issued a $7.00 price target (up from $5.00) on shares of Bumble in a report on Monday, August 11th. Finally, Zacks Research upgraded shares of Bumble to a "hold" rating in a research report on Friday, August 8th.

Insider Buying and Selling at Bumble

In related news, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 68,124,652 shares of company stock worth $426,460,322 in the last 90 days. Company insiders own 15.84% of the company's stock.

Hedge Funds Weigh In On Bumble

Hedge funds have recently bought and sold shares of the business. Cerity Partners LLC boosted its holdings in Bumble by 16.7% in the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company's stock valued at $132,000 after purchasing an additional 2,857 shares during the period. Quantbot Technologies LP raised its position in shares of Bumble by 4.1% in the second quarter. Quantbot Technologies LP now owns 102,964 shares of the company's stock valued at $679,000 after buying an additional 4,093 shares in the last quarter. Swiss National Bank raised its position in shares of Bumble by 3.0% in the second quarter. Swiss National Bank now owns 151,200 shares of the company's stock valued at $996,000 after buying an additional 4,400 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Bumble by 14.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,194 shares of the company's stock valued at $295,000 after buying an additional 4,584 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in Bumble by 8.6% during the first quarter. 180 Wealth Advisors LLC now owns 70,019 shares of the company's stock worth $304,000 after buying an additional 5,522 shares in the last quarter. 94.85% of the stock is owned by institutional investors.

Bumble Stock Down 0.9%

Bumble stock opened at $6.56 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30. The company's 50-day moving average is $6.85 and its 200-day moving average is $5.64. The firm has a market capitalization of $682.31 million, a PE ratio of -1.34, a P/E/G ratio of 0.92 and a beta of 1.95. Bumble has a fifty-two week low of $3.55 and a fifty-two week high of $9.22.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.27. The business had revenue of $248.23 million during the quarter, compared to analysts' expectations of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.Bumble's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. Sell-side analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.