Bumble (NASDAQ:BMBL) Reaches New 1-Year High – Time to Buy?

Bumble Inc. (NASDAQ:BMBL) shares hit a new 52-week high during trading on Thursday. The company traded as high as $6.04 and last traded at $6.01, with a volume of 4,032,199 shares trading hands. The stock had previously closed at $5.99.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BMBL shares. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 12th. Wells Fargo & Company reduced their target price on 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 decreased their price target on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. Susquehanna dropped their price target on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Finally, UBS Group increased their price objective on shares of Bumble from $3.00 to $6.05 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. One analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.04.

Bumble Trading Up 0.3%

The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. The company has a market cap of $793.13 million, a price-to-earnings ratio of -1.38 and a beta of 1.67. The firm has a 50-day moving average price of $4.19 and a 200 day moving average price of $3.45.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Bumble had a negative net margin of 62.87% and a positive return on equity of 39.04%. The firm had revenue of $207.09 million for the quarter, compared to analyst estimates of $209.61 million. As a group, sell-side analysts forecast that Bumble Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling at Bumble

In other Bumble news, major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total value of $9,782,825.40. Following the transaction, the insider owned 13,733 shares of the company’s stock, valued at $48,614.82. This trade represents a 99.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder – Nq L.L.C. Btoa sold 2,763,510 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total value of $9,782,825.40. Following the transaction, the insider directly owned 13,733 shares of the company’s stock, valued at $48,614.82. This trade represents a 99.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,127,851 shares of company stock worth $83,447,304 in the last ninety days. 15.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BMBL. HB Wealth Management LLC bought a new stake in Bumble in the first quarter valued at $34,000. Seven Mile Advisory acquired a new position in shares of Bumble during the third quarter valued at $40,000. R Squared Ltd acquired a new position in shares of Bumble during the third quarter valued at $41,000. L2 Asset Management LLC acquired a new stake in shares of Bumble in the 2nd quarter worth about $42,000. Finally, StoneX Group Inc. increased its holdings in shares of Bumble by 39.5% in the 3rd quarter. StoneX Group Inc. now owns 18,854 shares of the company’s stock worth $51,000 after acquiring an additional 5,339 shares during the period. 94.85% of the stock is currently owned by institutional investors.

About Bumble

Bumble Inc. operates online dating and social networking platforms, including Bumble, Badoo and Bumble For Friends. Its apps help users meet potential romantic partners, make friends and build social connections, with services available in markets around the world. The Bumble dating app launched in 2014, founded by Whitney Wolfe Herd. It became known for a design in which women initiate conversations in heterosexual matches; the company has since introduced additional ways for users to start conversations.