Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells 16,689,884 Shares of Stock

Key Points

• Major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Bumble Inc. at an average price of $6.26, totaling over $104 million.
• Bumble's stock has seen a recent increase of 3.6% and has a current market capitalization of approximately $649.69 million.
• Equity research analysts have a consensus target price of $6.69 for Bumble, with varying ratings from buy to hold and sell.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible 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.

Bumble Trading Up 2.2%

Shares of BMBL traded up $0.14 during midday trading on Wednesday, reaching $6.52. The company had a trading volume of 6,511,338 shares, compared to its average volume of 4,603,225. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $9.22. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. The firm has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $5.78. The stock has a market cap of $678.15 million, a PE ratio of -1.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.96.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $248.23 million during the quarter, compared to analyst estimates of $243.72 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Bumble's quarterly revenue was down 7.6% on a year-over-year basis. Research analysts forecast that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Bumble

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Bumble to a "hold" rating in a report on Friday, August 8th. Citigroup increased their price objective on Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. The Goldman Sachs Group raised their target price on Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $5.00 target price on shares of Bumble in a research report on Tuesday, June 3rd. Finally, UBS Group increased their price target on Bumble from $6.00 to $7.50 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Bumble currently has an average rating of "Hold" and an average price target of $6.63.

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.