Bumble Inc. (NASDAQ:BMBL – Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors acquired 22,861 call options on the stock. This is an increase of 1,682% compared to the typical daily volume of 1,283 call options.
Analyst Upgrades and Downgrades
BMBL has been the subject of several research reports. Wells Fargo & Company cut their price objective on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group reduced their price objective on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Susquehanna decreased their target price on Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Wall Street Zen downgraded Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $4.12.
Get Our Latest Analysis on Bumble
Bumble News Summary
- Positive Sentiment: Ithaca will pay Bumble shareholders $6.05 per Class A share, representing an approximately 138% premium to Bumble’s unaffected October 9 closing price. The transaction provides a defined cash-exit value and would take Bumble private. Bumble acquisition announcement
- Positive Sentiment: The announced premium has driven a major repricing in BMBL, with reports describing the stock as up roughly 138% for the week. The deal also reduces investor exposure to Bumble’s ongoing turnaround challenges, including weak user engagement and declining paying users. Reuters Bumble take-private report
- Neutral Sentiment: BMBL is trading close to the proposed $6.05 consideration, leaving only a relatively small spread for investors. Further upside may therefore depend on deal completion rather than Bumble’s standalone operating performance. The transaction remains subject to customary closing conditions and shareholder approval. Yahoo Finance acquisition report
- Negative Sentiment: Several law firms, including Bleichmar Fonti & Auld, Kahn Swick & Foti, and Ademi, have announced investigations into whether the $6.05 price and sale process fairly value Bumble and adequately protect shareholders. These announcements are typically investor solicitations and do not establish wrongdoing, but they could create litigation, delay, or additional uncertainty around the merger. BFA Law Bumble investigation
Insider Activity at Bumble
In related news, major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of Bumble stock in a transaction dated 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 completion of the sale, the insider owned 16,120 shares of the company’s stock, valued at approximately $47,392.80. The trade was a 99.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Bumble stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the sale, the insider directly owned 16,120 shares of the company’s stock, valued at $47,392.80. The trade was a 99.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,127,851 shares of company stock valued at $83,447,304 over the last three months. Company insiders own 15.35% of the company’s stock.
Institutional Trading of Bumble
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Bumble by 314.5% in the 1st quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock valued at $1,986,000 after purchasing an additional 462,251 shares during the period. RBF Capital LLC grew its position in shares of Bumble by 86.9% during the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock worth $3,154,000 after purchasing an additional 449,866 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Bumble by 48.6% during 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. Pacer Advisors Inc. bought a new position in shares of Bumble during the first quarter worth approximately $2,039,000. Finally, Accel Growth Fund V Associates L.L.C. bought a new position in shares of Bumble during the second quarter worth approximately $16,174,499. Institutional investors and hedge funds own 94.85% of the company’s stock.
Bumble Stock Up 0.3%
BMBL stock opened at $5.97 on Thursday. Bumble has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $787.86 million, a price-to-earnings ratio of -1.41 and a beta of 1.88. The business’s fifty day moving average price is $2.90 and its two-hundred day moving average price is $3.14.
Bumble (NASDAQ:BMBL – Get Free Report) last announced its earnings results 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 the consensus estimate of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.45) EPS. On average, equities analysts anticipate that Bumble will post -0.08 earnings per share for the current year.
About Bumble
Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.
The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.
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