Bumble (NASDAQ:BMBL) Shares Climb 47.6% - What's Next?

Key Points

• Bumble shares surged 47.6% to $3.7490 in heavy trading, with volume about 37% above its average.
• Analyst sentiment remains cautious: 15 analysts rate the stock Hold, two rate it Sell and one rates it Buy, producing an average “Reduce” rating and a $3.87 price target.
• Bumble reported a quarterly EPS loss of $0.84, missing estimates by $1.09, while revenue declined 15.2% year over year to $210.53 million; insiders also sold roughly 15.1 million shares worth $44.3 million in the last quarter.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) was up 47.6% on Monday. The company traded as high as $3.08 and last traded at $3.7490. Approximately 4,508,174 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 3,294,054 shares. The stock had previously closed at $2.54.

Wall Street Analyst Weigh In

BMBL has been the topic of a number of research reports. The Goldman Sachs Group lowered their target price on shares of Bumble from $5.00 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. UBS Group lowered their price objective on shares of Bumble from $4.50 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 12th. Wall Street Zen lowered shares of Bumble from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Royal Bank Of Canada dropped their price objective on shares of Bumble from $5.00 to $4.00 and set a "sector perform" rating on the stock in a research note on Friday, August 7th. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Bumble in a report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Bumble presently has an average rating of "Reduce" and an average price target of $3.87.

Bumble Trading Up 47.6%

The company has a fifty day moving average of $2.78 and a two-hundred day moving average of $3.10. 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 capitalization of $494.76 million, a price-to-earnings ratio of -0.90 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 positive return on equity of 35.88% and a negative net margin of 58.99%. The firm had revenue of $210.53 million for the quarter, compared to analysts' expectations of $210.46 million. During the same quarter in the previous year, the company posted ($2.45) EPS. The firm's quarterly revenue was down 15.2% compared to the same quarter last year. On average, research analysts expect that Bumble Inc. will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other Bumble news, major shareholder - Nq L.L.C. Btoa sold 3,767,776 shares of the business's stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the transaction, the insider owned 16,120 shares in the company, valued at approximately $47,392.80. The trade was a 99.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider owned 16,120 shares of the company's stock, valued at $47,392.80. The trade was a 99.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,073,811 shares of company stock worth $44,316,003 over the last quarter. 15.35% of the stock is owned by company insiders.

Institutional Trading of Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC acquired a new stake in Bumble in the 1st quarter valued at about $34,000. L2 Asset Management LLC acquired a new position in Bumble during the second quarter worth about $42,000. R Squared Ltd purchased a new stake in shares of Bumble in the first quarter valued at about $48,000. Abel Hall LLC lifted its holdings in shares of Bumble by 49.4% in the first quarter. Abel Hall LLC now owns 17,530 shares of the company's stock valued at $57,000 after purchasing an additional 5,793 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Bumble in the first quarter valued at approximately $63,000. Institutional investors and hedge funds own 94.85% of the company's stock.

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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