Bumble Inc. (NASDAQ:BMBL - Get Free Report) major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Bumble Stock Performance
BMBL traded up $0.14 during midday trading on Wednesday, reaching $6.52. The company had a trading volume of 6,511,338 shares, compared to its average volume of 4,603,225. The business has a 50-day moving average of $6.64 and a two-hundred day moving average of $5.78. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. Bumble Inc. has a 1 year low of $3.55 and a 1 year high of $9.22. The company has a market cap of $678.15 million, a P/E ratio of -1.33, a P/E/G ratio of 0.89 and a beta of 1.96.
Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.27. The firm had revenue of $248.23 million for 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%.The business's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. As a group, equities research analysts predict that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bumble
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pale Fire Capital SE bought a new stake in Bumble in the 1st quarter valued at $43,000. Vident Advisory LLC bought a new position in shares of Bumble during the 1st quarter valued at about $48,000. Teacher Retirement System of Texas bought a new position in shares of Bumble during the 1st quarter valued at about $49,000. Tyche Wealth Partners LLC purchased a new position in shares of Bumble during the first quarter valued at about $52,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Bumble in the first quarter worth about $54,000. Institutional investors own 94.85% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on BMBL shares. Zacks Research upgraded shares of Bumble to a "hold" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. restated an "underweight" rating and set a $5.00 target price on shares of Bumble in a research note on Tuesday, June 3rd. Bank of America upped their target price on shares of Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Morgan Stanley increased their price target on Bumble from $5.50 to $6.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Finally, Citigroup boosted their price objective on Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.63.
Check Out Our Latest Research Report on BMBL
Bumble Company Profile
(
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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.
Further Reading
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