Bumble Inc. (NASDAQ:BMBL) Short Interest Down 27.1% in August

Key Points

• Bumble Inc. experienced a 27.1% decline in short interest during August, bringing the total to 11,480,000 shares as of August 31st, with 20.3% of the company's shares currently sold short.
• In its latest quarter, Bumble reported earnings of $0.64 per share, exceeding expectations, although revenue fell by 7.6% year-over-year.
• Major shareholders sold 68,124,652 shares in the last three months, indicating significant insider selling, while hedge funds increased their stakes in the company.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 11,480,000 shares, a decline of 27.1% from the August 15th total of 15,740,000 shares. Currently, 20.3% of the company's shares are sold short. Based on an average daily trading volume, of 3,560,000 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily trading volume, of 3,560,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 20.3% of the company's shares are sold short.

Bumble Price Performance

NASDAQ:BMBL opened at $6.91 on Wednesday. Bumble has a one year low of $3.55 and a one year high of $9.22. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.30 and a current ratio of 3.30. The firm has a market cap of $718.71 million, a price-to-earnings ratio of -1.41, a PEG ratio of 0.98 and a beta of 1.95. The firm's fifty day moving average is $6.88 and its two-hundred day moving average is $5.68.

Bumble (NASDAQ:BMBL - Get Free Report) last released 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 business had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The company's revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Research analysts expect that Bumble will post 4.19 EPS for the current year.

Insider Buying and Selling at Bumble

In other news, major shareholder - Nq L.L.C. Btoa sold 16,689,884 shares of the 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were 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. Over the last three months, insiders have sold 68,124,652 shares of company stock valued at $426,460,322. Insiders own 15.84% of the company's stock.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently bought and sold shares of the business. Maple Rock Capital Partners Inc. purchased a new stake in shares of Bumble in the second quarter valued at approximately $30,127,000. Bank of America Corp DE grew its stake in Bumble by 11.2% in the 2nd quarter. Bank of America Corp DE now owns 1,856,221 shares of the company's stock valued at $12,232,000 after acquiring an additional 187,299 shares during the period. Federated Hermes Inc. increased its holdings in Bumble by 57.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,173,055 shares of the company's stock worth $7,730,000 after acquiring an additional 428,559 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Bumble in the 2nd quarter worth $7,337,000. Finally, PDT Partners LLC raised its position in Bumble by 28.8% during the second quarter. PDT Partners LLC now owns 957,624 shares of the company's stock worth $6,311,000 after acquiring an additional 213,881 shares during the period. Hedge funds and other institutional investors own 94.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMBL. Royal Bank Of Canada increased their target price on Bumble from $7.00 to $7.50 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Bumble in a research report on Friday, June 27th. Morgan Stanley boosted their price target on Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. UBS Group raised their price objective on Bumble from $6.00 to $7.50 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Bank of America upped their target price on Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $6.63.

Bumble Company Profile

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.

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