PDT Partners LLC Raises Stock Holdings in Bumble Inc. $BMBL

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 grew its holdings in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 242.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 743,743 shares of the company's stock after buying an additional 526,629 shares during the period. PDT Partners LLC owned approximately 0.70% of Bumble worth $3,228,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMBL. Pale Fire Capital SE bought a new position in shares of Bumble during the 1st quarter worth approximately $43,000. Vident Advisory LLC bought a new position in shares of Bumble during the 1st quarter worth approximately $48,000. Teacher Retirement System of Texas bought a new position in shares of Bumble during the 1st quarter worth approximately $49,000. Tyche Wealth Partners LLC bought a new position in shares of Bumble during the 1st quarter worth approximately $52,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Bumble during the 1st quarter worth approximately $54,000. 94.85% of the stock is currently owned by institutional investors.

Bumble Trading Up 3.7%

BMBL stock traded up $0.24 during midday trading on Friday, hitting $6.70. The company had a trading volume of 3,879,739 shares, compared to its average volume of 4,127,362. 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 Inc. has a 52 week low of $3.55 and a 52 week high of $9.22. The stock's 50 day moving average price is $6.85 and its 200 day moving average price is $5.61. The stock has a market cap of $696.87 million, a price-to-earnings ratio of -1.37, a PEG ratio of 0.93 and a beta of 1.95.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research raised shares of Bumble to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a research report on Friday, June 27th. Morgan Stanley lifted their price target on shares of Bumble from $5.50 to $6.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $5.00 price target on shares of Bumble in a research report on Tuesday, June 3rd. Finally, Citigroup lifted 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. Three investment 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.com, Bumble currently has a consensus rating of "Hold" and a consensus target price of $6.63.

Insider Activity 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 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 filing with the Securities & Exchange Commission, which is available at this link. 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 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 approximately $10,005,095.08. This represents a 46.07% decrease in their position. 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 90 days. Company insiders own 15.84% of the company's stock.

About Bumble

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.