Bumble Target of Unusually High Options Trading (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the target of some unusual options trading activity on Monday. Investors acquired 48,074 put options on the stock. This represents an increase of 404% compared to the average volume of 9,543 put options.

Insider Activity at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,092 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Bumble by 50.2% in the third quarter. Public Employees Retirement System of Ohio now owns 1,633 shares of the company’s stock valued at $35,000 after purchasing an additional 546 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Bumble in the second quarter valued at $35,000. Nomura Asset Management Co. Ltd. bought a new position in Bumble in the first quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC bought a new position in Bumble in the third quarter valued at $45,000. Institutional investors own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BMBL. KeyCorp cut their target price on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Raymond James reiterated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. JPMorgan Chase & Co. cut their target price on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Susquehanna cut their target price on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $13.00 target price (down from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.13.

Bumble Trading Down 0.8 %

Shares of NASDAQ:BMBL opened at $10.04 on Wednesday. Bumble has a 12 month low of $9.99 and a 12 month high of $21.06. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $11.63 and its 200 day simple moving average is $13.26. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -334.67, a PEG ratio of 0.30 and a beta of 1.68.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). The company had revenue of $273.64 million for the quarter, compared to analyst estimates of $275.38 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. As a group, research analysts forecast that Bumble will post 0.66 EPS for the current fiscal 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.