Bumble (NASDAQ:BMBL) Major Shareholder Sells $26,246,039.04 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 7,477,504 shares of Bumble stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider owned 25,832 shares of the company’s stock, valued at $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Bumble Stock Performance

BMBL stock traded down $0.04 during midday trading on Thursday, reaching $3.74. 3,267,159 shares of the company’s stock traded hands, compared to its average volume of 6,282,907. The firm has a market capitalization of $421.65 million, a PE ratio of -0.62, a price-to-earnings-growth ratio of 0.13 and a beta of 1.96. The company has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $4.32. Bumble Inc. has a 52 week low of $2.61 and a 52 week high of $8.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.55 and a current ratio of 2.21.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently modified their holdings of BMBL. Maple Rock Capital Partners Inc. purchased a new stake in shares of Bumble in the 2nd quarter valued at about $30,127,000. Vanguard Group Inc. increased its position in shares of Bumble by 52.0% in the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock worth $67,989,000 after purchasing an additional 3,820,205 shares during the last quarter. Saba Capital Management L.P. increased its position in shares of Bumble by 52.6% in the fourth quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after purchasing an additional 1,838,923 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Bumble in the third quarter valued at approximately $6,013,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Bumble in the fourth quarter valued at approximately $3,516,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

BMBL has been the topic of a number of recent research reports. TD Cowen reissued a “hold” rating and set a $5.00 price objective on shares of Bumble in a report on Thursday, March 12th. Morgan Stanley upped their price target on Bumble from $3.50 to $4.00 and gave the company an “equal weight” rating in a research report on Thursday, March 12th. JPMorgan Chase & Co. upgraded shares of Bumble from an “underweight” rating to a “neutral” rating in a research report on Thursday, March 12th. William Blair reaffirmed an “outperform” rating on shares of Bumble in a research note on Monday. Finally, BTIG Research reiterated a “neutral” rating on shares of Bumble in a research note on Monday. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Bumble currently has an average rating of “Reduce” and a consensus target price of $4.34.

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.