Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells 2,763,510 Shares of Company Stock

Key Points

• Major shareholder Nq L.L.C. Btoa sold 2,763,510 Bumble shares at an average price of $3.54, generating $9.78 million and reducing its ownership by 99.51% to 13,733 shares.
• Bumble shares traded near $5.97 after Ithaca proposed acquiring the company for $6.05 per Class A share, a roughly 138% premium; the deal remains subject to shareholder approval and customary closing conditions.
• Despite the takeover premium, Bumble’s standalone outlook remains challenged: quarterly revenue fell 15.2% year over year, the company missed EPS expectations, and analysts’ consensus rating was “Reduce” with an average price target of $4.12.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) major shareholder - Nq L.L.C. Btoa sold 2,763,510 shares of Bumble stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the sale, the insider owned 13,733 shares of the company's stock, valued at $48,614.82. The trade was a 99.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

- Nq L.L.C. Btoa also recently made the following trade(s):

• On Monday, September 28th, - Nq L.L.C. Btoa sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44.

Bumble Stock Up 0.3%

Bumble stock traded up $0.02 during mid-day trading on Wednesday, reaching $5.97. 39,295,089 shares of the company were exchanged, compared to its average volume of 9,838,894. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market cap of $787.86 million, a P/E ratio of 2.69 and a beta of 1.88. Bumble Inc. has a 12-month low of $2.44 and a 12-month high of $5.98. The business has a fifty day moving average of $2.85 and a 200 day moving average of $3.13.

Bumble (NASDAQ:BMBL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $210.53 million for the quarter, compared to analysts' expectations of $210.46 million. During the same period in the previous year, the company posted ($2.45) earnings per share. The business's quarterly revenue was down 15.2% compared to the same quarter last year. Research analysts anticipate that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BMBL shares. Royal Bank Of Canada dropped their price target on Bumble from $5.00 to $4.00 and set a "sector perform" rating on the stock in a research note on Friday, August 7th. Weiss Ratings raised shares of Bumble from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. The Goldman Sachs Group lowered their target price 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. UBS Group boosted their target price on shares of Bumble from $3.00 to $6.05 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Raymond James Financial restated a "market perform" rating on shares of Bumble in a research note on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $4.12.

Trending Headlines about Bumble

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Accel Growth Fund V Associates L.L.C. acquired a new stake in shares of Bumble during the second quarter worth about $16,174,499. Renaissance Technologies LLC lifted its stake in Bumble by 48.6% during the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company's stock valued at $13,737,000 after acquiring an additional 1,378,487 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Bumble in the 1st quarter valued at $2,039,000. Principal Financial Group Inc. raised its holdings in shares of Bumble by 314.5% during the first 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 during the last quarter. Finally, RBF Capital LLC boosted 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 purchasing an additional 449,866 shares during the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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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