Bumble’s (BMBL) Sector Perform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their sector perform rating on shares of Bumble (NASDAQ:BMBL) in a report released on Wednesday,Benzinga reports. They currently have a $5.00 price target on the stock.

A number of other research analysts have also recently commented on the company. UBS Group reaffirmed a “neutral” rating and set a $4.00 target price on shares of Bumble in a research note on Friday, March 13th. BTIG Research reaffirmed a “neutral” rating on shares of Bumble in a research note on Monday, March 16th. Wells Fargo & Company cut their target price on Bumble from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. TD Cowen reaffirmed a “hold” rating and set a $5.00 target price on shares of Bumble in a research note on Thursday, March 12th. Finally, Morgan Stanley upped their target price on Bumble from $3.50 to $4.00 and gave the company an “equal weight” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Bumble currently has an average rating of “Reduce” and a consensus target price of $4.40.

Bumble Trading Up 4.6%

Shares of NASDAQ BMBL opened at $3.62 on Wednesday. The business’s 50 day moving average is $3.60 and its two-hundred day moving average is $3.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.21 and a quick ratio of 2.21. Bumble has a 1-year low of $2.61 and a 1-year high of $8.64. The stock has a market capitalization of $469.93 million, a P/E ratio of -0.62, a PEG ratio of 0.14 and a beta of 1.99.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. Bumble had a positive return on equity of 31.11% and a negative net margin of 72.04%.The company had revenue of $212.38 million for the quarter, compared to analysts’ expectations of $211.59 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. As a group, research analysts expect that Bumble will post 0.82 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the transaction, the insider owned 25,832 shares of the company’s stock, valued at $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings Gp Man Blackstone III sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the transaction, the insider directly owned 25,832 shares in the company, valued at approximately $90,670.32. This trade represents a 99.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 29,910,016 shares of company stock worth $104,984,156. Corporate insiders own 15.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BMBL. Vanguard Group Inc. grew its stake in Bumble by 52.0% in the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock worth $67,989,000 after purchasing an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. grew its stake in Bumble by 52.6% in the fourth quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after purchasing an additional 1,838,923 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Bumble in the third quarter worth approximately $6,013,000. Jacobs Levy Equity Management Inc. bought a new position in Bumble in the fourth quarter worth approximately $3,516,000. Finally, Cubist Systematic Strategies LLC grew its stake in Bumble by 3,714.4% in the second quarter. Cubist Systematic Strategies LLC now owns 923,093 shares of the company’s stock worth $6,083,000 after purchasing an additional 898,893 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.

About Bumble

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.