Bumble (NASDAQ:BMBL) Major Shareholder Sells $9,782,825.40 in Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder – Nq L.L.C. Btoa sold 2,763,510 shares of Bumble stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the completion of the sale, the insider owned 13,733 shares in the company, valued at $48,614.82. This trade represents a 99.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

– Nq L.L.C. Btoa also recently made the following trade(s):

• On Monday, September 28th, – Nq L.L.C. Btoa sold 3,767,776 shares of Bumble stock. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Trading Up 0.2%

Shares of Bumble stock opened at $5.94 on Friday. The stock has a market cap of $783.90 million, a P/E ratio of -1.40 and a beta of 1.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. Bumble Inc. has a 12-month low of $2.44 and a 12-month high of $5.98. The business’s 50 day moving average is $3.03 and its 200-day moving average is $3.18.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). The firm had revenue of $210.53 million during the quarter, compared to the consensus estimate of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The business’s revenue was down 15.2% on a year-over-year basis. During the same period last year, the business earned ($2.45) EPS. Equities research analysts predict that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bumble

Large investors have recently modified their holdings of the company. Headlands Technologies LLC grew its stake in Bumble by 10.1% during the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock worth $165,000 after purchasing an additional 4,746 shares during the period. Abel Hall LLC boosted its holdings in Bumble by 49.4% in the first quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock worth $57,000 after acquiring an additional 5,793 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in Bumble by 7.2% in the second quarter. 180 Wealth Advisors LLC now owns 95,699 shares of the company’s stock valued at $306,000 after acquiring an additional 6,455 shares during the period. Krilogy Financial LLC raised its position in shares of Bumble by 78.0% during the first quarter. Krilogy Financial LLC now owns 22,088 shares of the company’s stock worth $72,000 after purchasing an additional 9,678 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in Bumble in the 1st quarter valued at $34,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMBL has been the subject of a number of recent analyst reports. Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. Susquehanna decreased their price objective on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada reduced their target price on Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $4.12.

Bumble News Roundup

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca acquisition sets a defined exit value: Ithaca Holdco, the long-term holding company for technology businesses, has proposed acquiring Bumble for $6.05 per Class A share in cash. The offer represents an approximately 138% premium to Bumble’s unaffected October 9 closing price and would take the company private. Bumble acquisition announcement
• Positive Sentiment: Merger premium has driven the repricing: The transaction offers investors a substantial premium and limits exposure to Bumble’s standalone challenges, including declining revenue and paying-user pressure. The stock’s proximity to $6.05 suggests investors are largely valuing it on merger completion rather than future operating results. Reuters Bumble take-private report

About Bumble

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.