Bumble (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 16,689,884 Shares

Key Points

• Holdings Gp Man Blackstone III sold 16,689,884 shares of Bumble Inc. for approximately $104.5 million on August 13, as disclosed to the SEC.
• Bumble's stock price increased by 3.6% to $6.29, with a market capitalization of $649.69 million and a negative PE ratio of -1.29.
• Analyst ratings for Bumble indicate a consensus of "Hold" with a price target of $6.69, reflecting mixed sentiments about the stock's performance.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) 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 stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Bumble Price Performance

Shares of NASDAQ BMBL traded up $0.14 during mid-day trading on Wednesday, hitting $6.52. 6,511,338 shares of the company's stock traded hands, compared to its average volume of 4,603,225. 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 Inc. has a 1 year low of $3.55 and a 1 year high of $9.22. The company's 50-day moving average is $6.64 and its two-hundred day moving average is $5.78. The company has a market capitalization of $678.15 million, a P/E ratio of -1.33, a PEG ratio of 0.89 and a beta of 1.96.

Bumble (NASDAQ:BMBL - Get Free Report) last released its quarterly 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 positive return on equity of 10.35% and a negative net margin of 82.41%.The company had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. During the same quarter last year, the business posted $0.22 earnings per share. The firm's revenue was down 7.6% on a year-over-year basis. On average, equities analysts anticipate that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Analysts Set New Price Targets

BMBL has been the topic of several analyst reports. JPMorgan Chase & Co. reissued an "underweight" rating and set a $5.00 target price on shares of Bumble in a research report on Tuesday, June 3rd. Citigroup lifted their price objective on shares of Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. UBS Group boosted their price objective on shares of Bumble from $6.00 to $7.50 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. 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 report on Thursday, August 7th. Finally, Susquehanna reaffirmed a "neutral" rating and set a $7.00 price target (up from $5.00) on shares of Bumble in a research note on Monday, August 11th. Three research 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. According to MarketBeat.com, Bumble presently has a consensus rating of "Hold" and an average price target of $6.63.

Institutional Trading of Bumble

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

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.