Strs Ohio Takes Position in Bumble Inc. $BMBL

Key Points

• Strs Ohio has acquired a new stake in Bumble Inc. worth approximately $488,000, purchasing 112,500 shares during the first quarter.
• Major shareholders have offloaded significant shares, with corporate insiders selling over 68 million shares valued at around $426 million in the last quarter.
• Analysts have mixed views on Bumble's stock, with a consensus rating of "Hold" and an average target price of $6.63, while some firms have adjusted their price objectives upward.

Strs Ohio acquired a new position in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 112,500 shares of the company's stock, valued at approximately $488,000. Strs Ohio owned approximately 0.11% of Bumble at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMBL. Federated Hermes Inc. acquired a new stake in Bumble during the first quarter worth approximately $3,231,000. PDT Partners LLC raised its holdings in Bumble by 242.6% during the first quarter. PDT Partners LLC now owns 743,743 shares of the company's stock worth $3,228,000 after purchasing an additional 526,629 shares in the last quarter. Nuveen LLC acquired a new stake in Bumble during the first quarter worth approximately $1,196,000. Royal Bank of Canada raised its holdings in Bumble by 409.3% during the first quarter. Royal Bank of Canada now owns 325,121 shares of the company's stock worth $1,410,000 after purchasing an additional 261,281 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Bumble during the first quarter worth approximately $808,000. Institutional investors and hedge funds own 94.85% of the company's stock.

Insider Transactions at Bumble

In related news, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the business'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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the business's stock in a transaction dated 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 a total of 68,124,652 shares of company stock worth $426,460,322 in the last ninety days. Company insiders own 15.84% of the company's stock.

Wall Street Analysts Forecast Growth

BMBL has been the topic of a number of research reports. UBS Group raised their target price on shares of Bumble from $6.00 to $7.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Zacks Research upgraded shares of Bumble to a "hold" rating in a research report on Friday, August 8th. Bank of America raised their target price on shares of Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada raised their target price on shares of Bumble from $7.00 to $7.50 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Citigroup raised their target price on shares of Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.63.

Bumble Stock Performance

Shares of NASDAQ BMBL traded down $0.21 during trading on Monday, hitting $6.84. 5,548,239 shares of the company were exchanged, compared to its average volume of 3,204,733. Bumble Inc. has a 1 year low of $3.55 and a 1 year high of $9.22. The firm's fifty day moving average price is $6.90 and its 200 day moving average price is $5.74. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping 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 company had revenue of $248.23 million for the quarter, compared to analyst estimates of $243.72 million. During the same period in the previous year, the firm earned $0.22 EPS. The business's revenue was down 7.6% on a year-over-year basis. As a group, analysts anticipate that Bumble Inc. will post 4.19 EPS for the current year.

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.