UBS Group AG Sells 311,554 Shares of Bumble Inc. $BMBL

UBS Group AG cut its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 32.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 662,732 shares of the company’s stock after selling 311,554 shares during the period. UBS Group AG’s holdings in Bumble were worth $2,366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in shares of Bumble in the third quarter worth about $31,000. Krilogy Financial LLC bought a new position in shares of Bumble during the 4th quarter valued at about $48,000. Pallas Capital Advisors LLC acquired a new position in shares of Bumble in the 4th quarter valued at approximately $61,000. Envestnet Asset Management Inc. acquired a new position in shares of Bumble in the 3rd quarter valued at approximately $65,000. Finally, Tower Research Capital LLC TRC increased its stake in Bumble by 182.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,117 shares of the company’s stock worth $73,000 after purchasing an additional 7,185 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America dropped their target price on shares of Bumble from $3.50 to $3.30 and set an “underperform” rating on the stock in a report on Thursday, March 12th. Wall Street Zen raised shares of Bumble from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of Bumble from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Wells Fargo & Company cut their price objective on shares of Bumble from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Finally, Citigroup reduced their target price on shares of Bumble from $3.90 to $3.60 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $4.38.

Insider Buying and Selling

In other news, major shareholder – Nq L.L.C. Btoa 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 sale, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 7,477,504 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider directly 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,910,016 shares of company stock worth $104,984,156. 15.35% of the stock is owned by corporate insiders.

Bumble Price Performance

NASDAQ:BMBL opened at $3.16 on Wednesday. Bumble Inc. has a 52-week low of $2.61 and a 52-week high of $8.64. The company has a market cap of $410.23 million, a P/E ratio of -0.54, a P/E/G ratio of 0.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $3.50.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $212.38 million during the quarter, compared to analysts’ expectations of $211.59 million. Bumble had a positive return on equity of 32.66% and a negative net margin of 72.04%.The business’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, sell-side analysts forecast that Bumble Inc. will post 0.99 EPS for the current fiscal year.

Bumble Profile

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.