Insider Selling: Bumble (NASDAQ:BMBL) Major Shareholder Sells 2,763,510 Shares of Company Stock

Bumble Inc. (NASDAQ:BMBL – Get Free Report) major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of Bumble stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the transaction, the insider owned 13,733 shares in the company, valued at $48,614.82. The trade was a 99.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Buzz Holdings L.P. Bcp also recently made the following trade(s):

  • On Monday, September 28th, Buzz Holdings L.P. Bcp sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Stock Performance

Bumble stock traded up $0.02 during mid-day trading on Wednesday, reaching $5.97. The company had a trading volume of 39,295,089 shares, compared to its average volume of 9,838,894. The company has a 50 day moving average of $2.85 and a 200-day moving average of $3.13. The firm has a market cap of $787.86 million, a price-to-earnings ratio of 2.69 and a beta of 1.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. Bumble Inc. has a 52 week low of $2.44 and a 52 week high of $5.98.

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

Analyst Ratings Changes

A number of research firms have recently commented on BMBL. Susquehanna reduced their price objective on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada lowered their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Wall Street Zen lowered shares of Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $4.12.

Check Out Our Latest Stock Report on Bumble

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC lifted its position in shares of Bumble by 10.1% during the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock worth $165,000 after purchasing an additional 4,746 shares in the last quarter. Abel Hall LLC lifted its holdings in Bumble by 49.4% during the 1st quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock worth $57,000 after buying an additional 5,793 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in Bumble by 7.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 95,699 shares of the company’s stock worth $306,000 after buying an additional 6,455 shares in the last quarter. Krilogy Financial LLC boosted its position in 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 buying an additional 9,678 shares during the last quarter. Finally, HB Wealth Management LLC bought a new position in Bumble in the 1st quarter valued at $34,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Bumble

Here are the key news stories impacting Bumble this week:

  • 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

About Bumble

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Bumble (NASDAQ:BMBL)

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