Bumble (NASDAQ:BMBL) Stock: Insider Holdings Gp Man Blackstone III Sells 2,763,510 Shares

Key Points

• Blackstone III sold 2.76 million Bumble shares for approximately $9.8 million at an average price of $3.54, reducing its ownership by 99.51% to 13,733 shares.
• Bumble shares traded near $5.97 after the company agreed to be acquired by Ithaca Holdings for $6.05 per Class A share, a roughly 138% premium to its unaffected price; the deal remains subject to shareholder approval and customary closing conditions.
• The company continues to face operating challenges, including a 15.2% year-over-year revenue decline and a quarterly EPS loss that missed estimates. Analysts overwhelmingly rate the stock “Hold,” with a consensus target price of $4.12.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the firm's stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the sale, the insider directly owned 13,733 shares in the company, valued at $48,614.82. This represents a 99.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Holdings Gp Man Blackstone III also recently made the following trade(s):

• On Monday, September 28th, Holdings Gp Man Blackstone III sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Trading Up 0.3%

Shares of BMBL stock traded up $0.02 during mid-day trading on Wednesday, hitting $5.97. 39,295,089 shares of the company's stock were exchanged, compared to its average volume of 9,838,894. Bumble Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. The stock has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $3.13. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. The stock has a market cap of $787.86 million, a price-to-earnings ratio of 2.69 and a beta of 1.88.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($1.09). Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The business had revenue of $210.53 million during the quarter, compared to analysts' expectations of $210.46 million. During the same period in the prior year, the firm earned ($2.45) EPS. Bumble's revenue for the quarter was down 15.2% on a year-over-year basis. Equities analysts expect that Bumble Inc. will post -0.08 EPS for the current fiscal year.

Key Bumble News

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca will pay Bumble shareholders $6.05 per Class A share, representing an approximately 138% premium to Bumble’s unaffected October 9 closing price. The transaction provides a defined cash-exit value and would take Bumble private. Bumble acquisition announcement
• Positive Sentiment: The announced premium has driven a major repricing in BMBL, with reports describing the stock as up roughly 138% for the week. The deal also reduces investor exposure to Bumble’s ongoing turnaround challenges, including weak user engagement and declining paying users. Reuters Bumble take-private report
• Neutral Sentiment: BMBL is trading close to the proposed $6.05 consideration, leaving only a relatively small spread for investors. Further upside may therefore depend on deal completion rather than Bumble’s standalone operating performance. The transaction remains subject to customary closing conditions and shareholder approval. Yahoo Finance acquisition report
• Negative Sentiment: Several law firms, including Bleichmar Fonti & Auld, Kahn Swick & Foti, and Ademi, have announced investigations into whether the $6.05 price and sale process fairly value Bumble and adequately protect shareholders. These announcements are typically investor solicitations and do not establish wrongdoing, but they could create litigation, delay, or additional uncertainty around the merger. BFA Law Bumble investigation

Hedge Funds Weigh In On Bumble

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Bumble by 314.5% during the 1st quarter. Principal Financial Group Inc. now owns 609,226 shares of the company's stock worth $1,986,000 after purchasing an additional 462,251 shares in the last quarter. RBF Capital LLC raised its holdings in Bumble by 86.9% in the first quarter. RBF Capital LLC now owns 967,372 shares of the company's stock valued at $3,154,000 after buying an additional 449,866 shares during the period. Renaissance Technologies LLC lifted its position in Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company's stock valued at $13,737,000 after buying an additional 1,378,487 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Bumble during the first quarter valued at approximately $2,039,000. Finally, Accel Growth Fund V Associates L.L.C. acquired a new position in Bumble during the second quarter valued at approximately $16,174,499. 94.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMBL has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Bumble from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. UBS Group increased their price target on shares of Bumble from $3.00 to $6.05 and gave the stock a "neutral" rating in a research note on Wednesday. Susquehanna cut their price target on shares of Bumble from $3.50 to $3.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company decreased their price target on shares of Bumble from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Bumble from $5.00 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $4.12.

Bumble Company Profile

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble's dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.

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