Nuveen LLC Acquires Shares of 275,685 Bumble Inc. $BMBL

Key Points

• Nuveen LLC has acquired a new stake in Bumble Inc. (NASDAQ:BMBL), purchasing 275,685 shares valued at approximately $1.196 million, bringing its ownership to 0.26% as of the latest SEC filing.
• Analysts have varied opinions on Bumble, with a consensus rating of "Hold" and a target price averaging $6.63; notable upgrades include UBS Group raising its target price to $7.50.
• In recent trading, Bumble's stock has dropped to $6.17, with significant insider sales in August, including CEO Whitney Wolfe Herd reducing her stake by 46.07%.

Nuveen LLC bought a new stake in Bumble Inc. (NASDAQ:BMBL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 275,685 shares of the company's stock, valued at approximately $1,196,000. Nuveen LLC owned approximately 0.26% of Bumble at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in Bumble in the 4th quarter valued at about $476,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bumble by 26.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company's stock valued at $1,887,000 after purchasing an additional 48,207 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Bumble in the 4th quarter valued at about $2,042,000. Man Group plc purchased a new position in Bumble in the 4th quarter valued at about $334,000. Finally, ProShare Advisors LLC lifted its holdings in Bumble by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 27,057 shares of the company's stock valued at $220,000 after purchasing an additional 8,902 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Trading Down 0.9%

BMBL traded down $0.06 on Thursday, reaching $6.27. 1,004,932 shares of the company's stock were exchanged, compared to its average volume of 3,382,816. The company's 50 day moving average is $6.84 and its 200-day moving average is $5.64. The company has a market cap of $651.62 million, a price-to-earnings ratio of -1.28, a PEG ratio of 0.86 and a beta of 1.95. Bumble Inc. has a twelve month low of $3.55 and a twelve month 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.

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

Insider Buying and Selling

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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 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 transaction of $104,478,673.84. The disclosure for this sale can be found here. Insiders have sold 68,124,652 shares of company stock valued at $426,460,322 over the last three months. Company insiders own 15.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BMBL. Susquehanna reaffirmed a "neutral" rating and set a $7.00 price objective (up previously from $5.00) on shares of Bumble in a research note on Monday, August 11th. Morgan Stanley upped their price objective on shares of Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $5.00 price objective on shares of Bumble in a research note on Tuesday, June 3rd. Royal Bank Of Canada upped their price objective on shares of Bumble from $7.00 to $7.50 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Citigroup upped their price objective on shares of Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Three 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. According to data from MarketBeat.com, the stock 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.