Fox Run Management L.L.C. Makes New Investment in Bumble Inc. $BMBL

Key Points

• Fox Run Management L.L.C. has acquired 47,354 shares of Bumble Inc. valued at approximately $206,000, according to its recent 13F filing.
• Bumble's stock saw a 2.2% increase, with the company reporting quarterly earnings of $0.64 EPS, exceeding analysts' expectations of $0.37.
• Several major shareholders sold significant portions of Bumble's stock, totaling 68 million shares, raising concerns about insider trading and stock ownership.

Fox Run Management L.L.C. bought a new stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 47,354 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds have also modified their holdings of BMBL. Teacher Retirement System of Texas purchased a new stake in shares of Bumble during the 1st quarter valued at about $49,000. Tyche Wealth Partners LLC acquired a new stake in Bumble during the 1st quarter valued at approximately $52,000. Kestra Private Wealth Services LLC acquired a new stake in Bumble during the 1st quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its stake in Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after purchasing an additional 1,249 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Bumble during the 1st quarter valued at approximately $62,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Performance

NASDAQ:BMBL traded up $0.0950 during midday trading on Monday, reaching $6.4550. 2,235,806 shares of the company traded hands, compared to its average volume of 3,376,887. Bumble Inc. has a twelve month low of $3.55 and a twelve month high of $9.22. The firm has a market capitalization of $671.38 million, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.96. 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 moving average price of $6.70 and a 200 day moving average price of $5.72.

Bumble (NASDAQ:BMBL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.27. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The business had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts expect that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling at Bumble

In other Bumble news, major shareholder Buzz Holdings L.P. Bcp 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 transaction of $104,478,673.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Whitney Wolfe Herd sold 1,365,116 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 $8,545,626.16. Following the transaction, the chief executive officer owned 1,598,258 shares of the company's stock, valued at $10,005,095.08. This trade represents a 46.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,124,652 shares of company stock worth $426,460,322. 15.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMBL. Zacks Research upgraded Bumble to a "hold" rating in a research note on Friday, August 8th. Morgan Stanley raised 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. Citigroup raised their price objective on shares of Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. The Goldman Sachs Group raised their price objective on shares of Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. 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 assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Bumble presently has a consensus rating of "Hold" and a consensus price target of $6.63.

Bumble 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.