Bumble Target of Unusually High Options Trading (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) saw unusually large options trading activity on Thursday. Stock investors bought 59,269 put options on the stock. This is an increase of approximately 481% compared to the average daily volume of 10,208 put options.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMBL shares. Morgan Stanley began coverage on Bumble in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 target price for the company. Evercore ISI boosted their target price on shares of Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday. Susquehanna cut their price target on shares of Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a report on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective (down from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $16.00 target price on shares of Bumble in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Bumble currently has an average rating of “Moderate Buy” and an average target price of $16.27.

Bumble Stock Performance

Shares of BMBL traded up $0.67 during midday trading on Thursday, reaching $10.94. 4,933,409 shares of the stock were exchanged, compared to its average volume of 2,930,129. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -363.67, a PEG ratio of 0.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. Bumble has a twelve month low of $9.83 and a twelve month high of $21.06. The business’s 50-day moving average price is $10.71 and its 200 day moving average price is $12.85.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) earnings per share. On average, sell-side analysts expect that Bumble will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Bumble

A number of large investors have recently modified their holdings of BMBL. Headlands Technologies LLC boosted its holdings in Bumble by 98.6% during the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after buying an additional 1,092 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Bumble in the 3rd quarter worth approximately $45,000. FNY Investment Advisers LLC purchased a new position in Bumble in the 4th quarter valued at approximately $68,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Bumble in the 3rd quarter worth $161,000. Finally, Neo Ivy Capital Management purchased a new stake in Bumble during the fourth quarter valued at about $162,000. 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.