Bumble (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 3,767,776 Shares of Company Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 3,767,776 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were 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 $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. 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 2.1%

Shares of BMBL traded up $0.06 during mid-day trading on Wednesday, reaching $2.62. The company’s stock had a trading volume of 2,836,122 shares, compared to its average volume of 3,363,300. The stock has a market cap of $346.42 million, a PE ratio of -0.62 and a beta of 1.86. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. Bumble Inc. has a 52 week low of $2.49 and a 52 week high of $6.21. The company’s fifty day moving average price is $2.83 and its two-hundred day moving average price is $3.17.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). The business had revenue of $210.53 million during the quarter, compared to analysts’ expectations of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. Bumble’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the company posted ($2.45) EPS. On average, analysts predict that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BMBL. Royal Bank Of Canada reduced their price objective on Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group reduced their price target on Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bumble in a research note on Tuesday, August 4th. Finally, Susquehanna decreased their price target on Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $3.87.

Institutional Trading of Bumble

Large investors have recently added to or reduced their stakes in the stock. Accel Growth Fund V Associates L.L.C. purchased a new position in Bumble during the 2nd quarter valued at $16,174,499. Renaissance Technologies LLC raised its holdings in Bumble by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after purchasing an additional 1,378,487 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Bumble by 16.7% in the 1st quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock worth $6,241,000 after purchasing an additional 274,548 shares during the period. RBF Capital LLC boosted its stake in shares of Bumble by 86.9% during the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after purchasing an additional 449,866 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Bumble during the 1st quarter valued at about $2,039,000. Institutional investors own 94.85% of the company’s stock.

About Bumble

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.