Bumble (NASDAQ:BMBL) Major Shareholder Holdings Gp Man Blackstone III Sells 2,763,510 Shares of Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the sale, the insider directly owned 13,733 shares in the company, valued at approximately $48,614.82. The trade was a 99.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings Gp Man Blackstone III also recently made the following trade(s):

• On Monday, September 28th, Holdings Gp Man Blackstone III sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44.

Bumble Stock Up 0.3%

Shares of NASDAQ:BMBL opened at $5.97 on Thursday. The firm has a 50 day simple moving average of $2.90 and a 200-day simple moving average of $3.14. Bumble Inc. has a twelve month low of $2.44 and a twelve month high of $5.98. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $787.86 million, a PE ratio of -1.41 and a beta of 1.88.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). The company had revenue of $210.53 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the business earned ($2.45) earnings per share. On average, equities analysts predict that Bumble Inc. will post -0.08 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC raised its holdings in 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. L2 Asset Management LLC acquired a new stake in Bumble in the second quarter valued at about $42,000. Globeflex Capital L P purchased a new stake in Bumble in the 2nd quarter valued at approximately $70,000. Accel Growth Fund V Associates L.L.C. purchased a new stake in Bumble in the 2nd quarter valued at approximately $16,174,499. Finally, Bank of New York Mellon Corp purchased a new stake in Bumble in the 2nd quarter valued at approximately $1,035,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on BMBL. Wells Fargo & Company decreased 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 note on Friday, August 7th. Royal Bank Of Canada dropped their price objective on Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. Susquehanna cut 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. Finally, Weiss Ratings raised Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. 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 company. According to MarketBeat, Bumble presently has an average rating of “Reduce” and a consensus price target of $4.12.

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.