Bumble (NASDAQ:BMBL) Major Shareholder Sells $28,264,950.00 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of Bumble stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bumble Stock Performance

NASDAQ:BMBL remained flat at $2.96 during trading hours on Thursday. The company had a trading volume of 6,144,114 shares, compared to its average volume of 2,910,568. The company has a market capitalization of $384.27 million, a PE ratio of -0.51, a P/E/G ratio of 0.10 and a beta of 1.89. The company has a 50-day simple moving average of $3.45 and a two-hundred day simple moving average of $3.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.22 and a quick ratio of 1.22. Bumble Inc. has a 52-week low of $2.61 and a 52-week high of $8.64.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The company had revenue of $212.38 million during the quarter, compared to the consensus estimate of $211.59 million. Bumble had a positive return on equity of 32.66% and a negative net margin of 72.04%.Bumble’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. On average, sell-side analysts forecast that Bumble Inc. will post 0.99 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Bumble by 52.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock valued at $67,989,000 after acquiring an additional 3,820,205 shares during the period. Saba Capital Management L.P. boosted its stake in Bumble by 52.6% during the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after purchasing an additional 1,838,923 shares during the period. Renaissance Technologies LLC boosted its stake in 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 during the period. Tudor Investment Corp ET AL purchased a new position in Bumble during the 3rd quarter worth $6,013,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Bumble in the fourth quarter valued at $3,516,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen reiterated a “hold” rating and issued a $5.00 price target on shares of Bumble in a research note on Thursday, March 12th. William Blair restated an “outperform” rating on shares of Bumble in a research report on Monday, March 16th. Morgan Stanley upped their target price on shares of Bumble from $3.50 to $4.00 and gave the company an “equal weight” rating in a report on Thursday, March 12th. Zacks Research upgraded shares of Bumble from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, BTIG Research reissued a “neutral” rating on shares of Bumble in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bumble presently has a consensus rating of “Reduce” and a consensus price target of $4.33.

About Bumble

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.