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. Based on an average trading volume of 3,560,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 20.3% of the shares of the company are short sold. Approximately 20.3% of the shares of the company are short sold. Based on an average trading volume of 3,560,000 shares, the days-to-cover ratio is currently 3.2 days.

Insider Buying and Selling

In related news, CEO Whitney Wolfe Herd sold 1,365,116 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $8,545,626.16. Following the completion of the transaction, the chief executive officer owned 1,598,258 shares of the company's stock, valued at approximately $10,005,095.08. This represents a 46.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 stock was 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 valued at $426,460,322 in the last three months. 15.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming purchased a new position in shares of Bumble during the second quarter worth $135,000. Nomura Holdings Inc. purchased a new position in shares of Bumble during the second quarter worth $748,000. Caxton Associates LLP acquired a new stake in shares of Bumble in the second quarter valued at $2,468,000. Evergreen Capital Management LLC acquired a new stake in shares of Bumble in the second quarter valued at $116,000. Finally, Tower Research Capital LLC TRC raised 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 acquiring an additional 7,185 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Trading Down 1.7%

Bumble stock traded down $0.12 during mid-day trading on Friday, hitting $7.05. The company's stock had a trading volume of 4,083,967 shares, compared to its average volume of 3,201,015. The firm has a market capitalization of $733.27 million, a PE ratio of -1.44, a price-to-earnings-growth ratio of 1.00 and a beta of 1.95. Bumble has a 1 year low of $3.55 and a 1 year 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. The stock's fifty day moving average is $6.90 and its two-hundred day moving average is $5.72.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.27. The company 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 firm's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. On average, analysts anticipate that Bumble will post 4.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Bumble from $7.00 to $7.50 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Bank of America upped their price target on Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Susquehanna reissued a "neutral" rating and set a $7.00 target price (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $5.00 target price on shares of Bumble in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a report on Friday, June 27th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bumble currently has an average rating of "Hold" and an average 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.