Bumble Inc. $BMBL Shares Acquired by PDT Partners LLC

Key Points

• PDT Partners LLC increased its stake in Bumble Inc. by 242.6%, acquiring an additional 526,629 shares in the recent quarter, bringing its total to 743,743 shares valued at approximately $3.2 million.
• Bumble's shares have fluctuated significantly, with a twelve-month low of $3.55 and high of $9.22, and currently opened at $6.17.
• Analysts have mixed opinions on Bumble, with an average rating of "Hold" and a consensus target price of $6.63, amidst varying target price adjustments by different financial institutions.

PDT Partners LLC lifted its stake in Bumble Inc. (NASDAQ:BMBL - Free Report) by 242.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 743,743 shares of the company's stock after buying an additional 526,629 shares during the quarter. PDT Partners LLC owned approximately 0.70% of Bumble worth $3,228,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock worth $60,000 after buying an additional 1,249 shares during the last quarter. Pale Fire Capital SE purchased a new stake in shares of Bumble in the first quarter worth about $43,000. Vident Advisory LLC purchased a new stake in shares of Bumble in the first quarter worth about $48,000. Teacher Retirement System of Texas purchased a new stake in shares of Bumble in the first quarter worth about $49,000. Finally, Wexford Capital LP purchased a new stake in shares of Bumble in the fourth quarter worth about $98,000. Hedge funds and other institutional investors own 94.85% of the company's stock.

Analyst Upgrades and Downgrades

BMBL has been the topic of a number of recent research reports. Bank of America upped their target price on Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company reaffirmed a "positive" rating on shares of Bumble in a report on Friday, June 27th. Zacks Research raised Bumble to a "hold" rating in a report on Friday, August 8th. UBS Group upped their price target on Bumble from $6.00 to $7.50 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley upped their price target on Bumble from $5.50 to $6.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Bumble has a consensus rating of "Hold" and an average target price of $6.63.

Bumble Trading Up 3.7%

Bumble stock traded up $0.24 during mid-day trading on Friday, hitting $6.70. The company's stock had a trading volume of 3,879,739 shares, compared to its average volume of 4,126,083. The firm has a market capitalization of $696.87 million, a PE ratio of -1.37, a price-to-earnings-growth ratio of 0.90 and a beta of 1.95. Bumble Inc. 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 $6.85 and its two-hundred day moving average is $5.61.

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 Inc. will post 4.19 EPS for the current year.

Insider Activity at Bumble

In related news, CEO Whitney Wolfe Herd sold 1,365,116 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $8,545,626.16. Following the completion of the transaction, the chief executive officer directly owned 1,598,258 shares in the company, valued at $10,005,095.08. This trade represents a 46.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were 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 worth $426,460,322 over the last ninety days. Company 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.