Renaissance Technologies LLC grew its stake in shares of Bumble Inc. (NASDAQ:BMBL – Free Report) by 48.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,213,887 shares of the company’s stock after acquiring an additional 1,378,487 shares during the quarter. Renaissance Technologies LLC’s holdings in Bumble were worth $13,737,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new stake in Bumble in the third quarter valued at approximately $6,013,000. Principal Financial Group Inc. increased its position in Bumble by 314.5% during the first quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock worth $1,986,000 after purchasing an additional 462,251 shares during the last quarter. Militia Capital Partners LP purchased a new position in Bumble during the fourth quarter worth approximately $1,080,000. Pallas Capital Advisors LLC purchased a new position in Bumble during the fourth quarter worth approximately $61,000. Finally, Krilogy Financial LLC boosted its holdings in shares of Bumble by 78.0% in the 1st quarter. Krilogy Financial LLC now owns 22,088 shares of the company’s stock valued at $72,000 after purchasing an additional 9,678 shares during the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.
Bumble Price Performance
BMBL opened at $2.85 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.58. Bumble Inc. has a 52-week low of $2.54 and a 52-week high of $7.95. The company has a 50 day moving average of $2.99 and a two-hundred day moving average of $3.29. The company has a market cap of $369.99 million, a P/E ratio of -0.49, a P/E/G ratio of 0.10 and a beta of 1.86.
Insider Activity
In related news, Director Ann Mather sold 22,013 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $2.79, for a total transaction of $61,416.27. Following the completion of the sale, the director directly owned 117,853 shares of the company’s stock, valued at approximately $328,809.87. This represents a 15.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,954,026 shares of company stock worth $113,182,633 in the last quarter. Insiders own 15.35% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BMBL. Raymond James Financial reissued a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Wall Street Zen raised Bumble from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Citigroup reduced their target price on Bumble from $3.90 to $3.60 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. UBS Group boosted their price target on Bumble from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered Bumble from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $4.33.
View Our Latest Stock Report on Bumble
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.
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