Bumble's (BMBL) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Bumble's stock has been given a "sell (D-)" rating by Weiss Ratings, suggesting a cautious outlook for investors based on their recent research report.
• Despite a negative consensus rating overall, Citigroup and Morgan Stanley both raised their price targets for Bumble's shares, indicating some analysts remain optimistic about its potential.
• CEO Whitney Wolfe Herd and a major shareholder sold significant amounts of Bumble stock, with insiders having sold a total of 68 million shares recently, which may signal concerns about the company's future performance.

Bumble (NASDAQ:BMBL - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on BMBL. Citigroup boosted their price target on shares of Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Morgan Stanley upped their price objective on shares of Bumble from $5.50 to $6.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $7.00 price objective (down previously from $8.00) on shares of Bumble in a report on Friday, October 3rd. Bank of America upped their price objective on shares of Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Finally, Susquehanna restated a "neutral" rating and issued a $7.00 price objective (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $6.46.

Bumble Trading Up 0.7%

Bumble stock traded up $0.04 during trading hours on Tuesday, reaching $5.28. The stock had a trading volume of 537,992 shares, compared to its average volume of 3,307,824. The stock has a market cap of $548.65 million, a PE ratio of -1.08, a PEG ratio of 0.71 and a beta of 1.94. Bumble has a 52 week low of $3.55 and a 52 week high of $9.22. 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 has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $5.88.

Bumble (NASDAQ:BMBL - Get Free Report) last announced 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 negative net margin of 82.41% and a positive return on equity of 10.35%. The company had revenue of $248.23 million for the quarter, compared to analysts' expectations of $243.72 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. Bumble's quarterly revenue was down 7.6% on a year-over-year basis. Analysts forecast that Bumble will post 4.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bumble news, CEO Whitney Wolfe Herd sold 1,365,116 shares of the 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 $8,545,626.16. Following the transaction, the chief executive officer directly owned 1,598,258 shares in the company, valued at approximately $10,005,095.08. This trade represents a 46.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder - Nq L.L.C. Btoa sold 16,689,884 shares of the 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 68,127,359 shares of company stock valued at $426,476,076. 15.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in shares of Bumble in the third quarter worth $633,000. Castleview Partners LLC purchased a new position in Bumble during the third quarter valued at $65,000. Patriot Financial Group Insurance Agency LLC grew its stake in Bumble by 9.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 140,357 shares of the company's stock valued at $855,000 after acquiring an additional 12,503 shares in the last quarter. Corient Private Wealth LLC grew its stake in Bumble by 1,157.2% during the second quarter. Corient Private Wealth LLC now owns 141,032 shares of the company's stock valued at $929,000 after acquiring an additional 129,814 shares in the last quarter. Finally, State of Wyoming purchased a new position in Bumble during the second quarter valued at $135,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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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