Bumble (NASDAQ:BMBL) Major Shareholder Buzz Holdings L.P. Bcp Sells 7,477,500 Shares of Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bumble Stock Performance

Shares of Bumble stock opened at $2.96 on Friday. Bumble Inc. has a 12-month low of $2.61 and a 12-month high of $8.64. The stock has a market capitalization of $384.27 million, a P/E ratio of -0.51, a price-to-earnings-growth ratio of 0.10 and a beta of 1.89. The company has a 50-day simple moving average of $3.45 and a 200 day simple moving average of $3.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.58.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. Bumble had a negative net margin of 72.04% and a positive return on equity of 32.66%. The firm had revenue of $212.38 million for the quarter, compared to analyst estimates of $211.59 million. During the same period in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. Research analysts expect that Bumble Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC raised its stake in Bumble by 16.7% during the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock worth $132,000 after buying an additional 2,857 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Bumble by 19.8% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 25,822 shares of the company’s stock worth $92,000 after acquiring an additional 4,270 shares in the last quarter. State of Wyoming increased its holdings in shares of Bumble by 59.8% in the fourth quarter. State of Wyoming now owns 12,017 shares of the company’s stock worth $43,000 after acquiring an additional 4,499 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Bumble by 7.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 65,798 shares of the company’s stock worth $235,000 after purchasing an additional 4,832 shares during the period. Finally, Wexford Capital LP acquired a new stake in shares of Bumble during the third quarter worth about $31,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BMBL shares. Wells Fargo & Company decreased their price objective on shares of Bumble from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. Susquehanna reaffirmed a “neutral” rating and set a $3.50 target price on shares of Bumble in a report on Thursday, March 12th. Weiss Ratings downgraded Bumble from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 7th. Morgan Stanley lifted their price objective on Bumble from $3.50 to $4.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Finally, Bank of America cut their target price on Bumble from $3.50 to $3.30 and set an “underperform” rating on the stock in a research note on Thursday, March 12th. 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 stock. According to MarketBeat.com, Bumble currently has an average rating of “Reduce” and an average target price of $4.33.

Bumble Company Profile

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.