Bumble Inc. (NASDAQ:BMBL) Given Average Rating of “Reduce” by Brokerages

Bumble Inc. (NASDAQ:BMBL) has been assigned a consensus recommendation of “Reduce” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.4583.

A number of research analysts recently weighed in on the company. Bank of America boosted their target price on Bumble from $5.25 to $5.50 and gave the stock an “underperform” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada upped their price objective on Bumble from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Thursday, August 7th. Citigroup upped their price objective on Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a report on Friday, June 27th. Susquehanna reaffirmed a “neutral” rating and issued a $7.00 price objective (up from $5.00) on shares of Bumble in a report on Monday, August 11th. Finally, Morgan Stanley upped their price objective on Bumble from $5.50 to $6.00 and gave the company an “equal weight” rating in a report on Friday, August 8th.

Insider Transactions at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Whitney Wolfe Herd sold 1,365,116 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $8,545,626.16. Following the sale, the chief executive officer owned 1,598,258 shares of the company’s stock, valued at approximately $10,005,095.08. The trade was a 46.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,127,359 shares of company stock worth $426,476,076. 15.84% of the stock is currently owned by company insiders.

Institutional Trading of Bumble

Institutional investors have recently modified their holdings of the stock. Cerity Partners LLC lifted its position in shares of Bumble by 16.7% during the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock worth $132,000 after buying an additional 2,857 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Bumble by 4.1% during the 2nd quarter. Quantbot Technologies LP now owns 102,964 shares of the company’s stock worth $679,000 after buying an additional 4,093 shares during the last quarter. Swiss National Bank lifted its position in shares of Bumble by 3.0% during the 2nd quarter. Swiss National Bank now owns 151,200 shares of the company’s stock worth $996,000 after buying an additional 4,400 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Bumble by 31.1% during the 2nd quarter. New York State Common Retirement Fund now owns 25,631 shares of the company’s stock worth $169,000 after buying an additional 6,077 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of 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 buying an additional 7,185 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.

Bumble Stock Down 8.0%

BMBL stock opened at $5.07 on Monday. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $527.33 million, a PE ratio of -1.04, a PEG ratio of 0.71 and a beta of 1.94. Bumble has a 1-year low of $3.55 and a 1-year high of $9.22. The business’s 50 day simple moving average is $6.47 and its 200 day simple moving average is $5.88.

Bumble (NASDAQ:BMBL) last posted 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. The business had revenue of $248.23 million for the quarter, compared to analyst estimates of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The firm’s revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. As a group, research analysts anticipate that Bumble will post 4.19 EPS for the current year.

About Bumble

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.