Martingale Asset Management L P Purchases New Holdings in Bumble Inc. $BMBL

Key Points

• Martingale Asset Management L P invested approximately $445,000 in Bumble Inc., acquiring 102,547 shares in the 1st quarter, which represents about 0.10% of the company.
• Bumble's last quarterly earnings report showed earnings per share of $0.64, exceeding analyst expectations, though revenue declined 7.6% year-over-year.
• Insiders have sold a total of 68 million shares valued at approximately $426 million recently, indicating significant insider activity amid generally low stock valuations.

Martingale Asset Management L P bought a new stake in Bumble Inc. (NASDAQ:BMBL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 102,547 shares of the company's stock, valued at approximately $445,000. Martingale Asset Management L P owned approximately 0.10% of Bumble as of its most recent filing with the SEC.

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

Bumble Price Performance

BMBL stock traded down $0.16 on Friday, hitting $6.17. 4,497,597 shares of the company's stock traded hands, compared to its average volume of 3,384,950. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $9.22. The stock has a market cap of $641.74 million, a price-to-earnings ratio of -1.26, a P/E/G ratio of 0.88 and a beta of 1.96. The stock has a fifty day moving average of $6.79 and a 200-day moving average of $5.70. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.00.

Bumble (NASDAQ:BMBL - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.64 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 business had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. During the same period in the prior year, the business earned $0.22 earnings per share. The business's quarterly revenue was down 7.6% on a year-over-year basis. On average, analysts forecast that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on BMBL. The Goldman Sachs Group upped their target price on shares of Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company restated a "positive" rating on shares of Bumble in a research report on Friday, June 27th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $5.00 target price on shares of Bumble in a research report on Tuesday, June 3rd. Susquehanna restated a "neutral" rating and issued a $7.00 target price (up previously from $5.00) on shares of Bumble in a research report on Monday, August 11th. Finally, Morgan Stanley upped their target price on shares of Bumble from $5.50 to $6.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Three investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.63.

Insider Buying and Selling at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's 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 $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Whitney Wolfe Herd sold 1,365,116 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $8,545,626.16. Following the completion of the sale, the chief executive officer owned 1,598,258 shares of the company's stock, valued at approximately $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 quarter, insiders sold 68,124,652 shares of company stock valued at $426,460,322. Corporate insiders own 15.84% of the company's stock.

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.