QRG Capital Management Inc. Sells 3,814 Shares of Bumble Inc. $BMBL

QRG Capital Management Inc. reduced its position in shares of Bumble Inc. (NASDAQ:BMBL) by 15.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,346 shares of the company’s stock after selling 3,814 shares during the quarter. QRG Capital Management Inc.’s holdings in Bumble were worth $134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMBL. Federated Hermes Inc. purchased a new stake in Bumble during the 1st quarter valued at $3,231,000. PDT Partners LLC raised its holdings in Bumble by 242.6% during the 1st quarter. PDT Partners LLC now owns 743,743 shares of the company’s stock valued at $3,228,000 after buying an additional 526,629 shares during the period. Nuveen LLC purchased a new stake in Bumble during the 1st quarter valued at $1,196,000. Royal Bank of Canada raised its holdings in Bumble by 409.3% during the 1st quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock valued at $1,410,000 after buying an additional 261,281 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Bumble during the 1st quarter valued at $808,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Insider Buying and Selling at Bumble

In other news, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Whitney Wolfe Herd sold 1,365,116 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $8,545,626.16. Following the transaction, the chief executive officer directly owned 1,598,258 shares in the company, valued at $10,005,095.08. The trade was a 46.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,127,359 shares of company stock worth $426,476,076. Insiders own 15.84% of the company’s stock.

Bumble Stock Performance

BMBL stock opened at $5.07 on Monday. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. The business’s fifty day simple moving average is $6.47 and its two-hundred day simple moving average is $5.88. Bumble Inc. has a twelve month low of $3.55 and a twelve month high of $9.22. The firm has a market cap of $527.33 million, a price-to-earnings ratio of -1.04, a PEG ratio of 0.71 and a beta of 1.94.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 6th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.27. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The business had revenue of $248.23 million for the quarter, compared to analyst estimates of $243.72 million. During the same quarter last year, the firm posted $0.22 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. Analysts predict that Bumble Inc. will post 4.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on BMBL. Weiss Ratings restated a “sell (d)” rating on shares of Bumble in a report on Saturday, September 27th. The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price target (down previously from $8.00) on shares of Bumble in a report on Friday, October 3rd. Royal Bank Of Canada increased their price target on Bumble from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Thursday, August 7th. Susquehanna restated a “neutral” rating and set a $7.00 price target (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. Finally, Citigroup increased their target price on Bumble from $4.80 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $6.46.

Bumble Company Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.