Short Interest in Bumble Inc. (NASDAQ:BMBL) Increases By 6.0%

Bumble Inc. (NASDAQ:BMBL) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 11,890,000 shares, an increase of 6.0% from the March 15th total of 11,220,000 shares. Currently, 12.6% of the shares of the stock are short sold. Based on an average trading volume of 2,970,000 shares, the short-interest ratio is currently 4.0 days.

Insider Buying and Selling at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.56% of the company’s stock.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently bought and sold shares of BMBL. Vanguard Group Inc. raised its holdings in shares of Bumble by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after purchasing an additional 297,286 shares during the last quarter. Wellington Management Group LLP increased its stake in Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after buying an additional 347,238 shares during the last quarter. Hudson Bay Capital Management LP boosted its stake in shares of Bumble by 800.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock worth $6,714,000 after buying an additional 400,000 shares during the last quarter. Pearl River Capital LLC bought a new position in shares of Bumble in the third quarter valued at approximately $753,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Bumble by 15.7% during the third quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock valued at $28,446,000 after acquiring an additional 258,288 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BMBL shares. BTIG Research cut their price objective on Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of Bumble in a report on Wednesday, February 28th. Morgan Stanley dropped their price objective on shares of Bumble from $17.00 to $16.00 and set an “equal weight” rating for the company 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 research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Bumble Stock Up 0.6 %

Bumble stock opened at $10.10 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. Bumble has a 12-month low of $9.99 and a 12-month high of $21.06. The company has a market capitalization of $1.31 billion, a PE ratio of -336.67, a PEG ratio of 0.28 and a beta of 1.68. The firm’s fifty day moving average is $11.57 and its 200 day moving average is $13.24.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.31). The company had revenue of $273.64 million during the quarter, compared to analysts’ expectations 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, sell-side analysts predict that Bumble will post 0.66 EPS for the current fiscal year.

Bumble Company Profile

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.