Quantbot Technologies LP Takes $429,000 Position in Bumble Inc. $BMBL

Key Points

• Quantbot Technologies LP purchased 98,871 shares of Bumble Inc. for approximately $429,000, representing about 0.09% ownership in the company.
• Institutional investors collectively own 94.85% of Bumble's stock, with several firms increasing their holdings significantly in recent quarters.
• Bumble's recent earnings report showed earnings of $0.64 per share, exceeding expectations, but revenue declined 7.6% compared to the previous year.

Quantbot Technologies LP acquired a new stake in Bumble Inc. (NASDAQ:BMBL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,871 shares of the company's stock, valued at approximately $429,000. Quantbot Technologies LP owned 0.09% of Bumble at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BMBL. Teacher Retirement System of Texas purchased a new position in Bumble during the first quarter worth about $49,000. Tyche Wealth Partners LLC purchased a new position in Bumble during the first quarter worth about $52,000. Kestra Private Wealth Services LLC purchased a new position in Bumble during the first quarter worth about $54,000. Tower Research Capital LLC TRC boosted its stake in Bumble by 20.3% during 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 period. Finally, HB Wealth Management LLC purchased a new position in Bumble during the first quarter worth about $62,000. Hedge funds and other institutional investors own 94.85% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Zacks Research raised shares of Bumble to a "hold" rating in a research note on Friday, August 8th. Bank of America raised their price objective on shares of Bumble from $5.25 to $5.50 and gave the company an "underperform" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group raised their price objective on shares of Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $5.00 price objective on shares of Bumble in a research note on Tuesday, June 3rd. Finally, Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $6.63.

Insider Activity at Bumble

In other Bumble news, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the firm'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 $104,478,673.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Whitney Wolfe Herd sold 1,365,116 shares of the firm'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 $8,545,626.16. Following the sale, the chief executive officer directly owned 1,598,258 shares in the company, valued at approximately $10,005,095.08. The trade was 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 in the last quarter. Company insiders own 15.84% of the company's stock.

Bumble Stock Down 2.5%

Bumble stock traded down $0.16 during trading on Friday, reaching $6.17. The stock had a trading volume of 4,497,597 shares, compared to its average volume of 4,633,779. The company has a quick ratio of 3.30, a current 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 business has a 50 day moving average price of $6.81 and a 200 day moving average price of $5.66. The stock has a market cap of $641.74 million, a PE ratio of -1.26, a P/E/G ratio of 0.86 and a beta of 1.96.

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

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.