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

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the 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 directly owned 13,733 shares of the company’s stock, valued at approximately $48,614.82. This trade represents a 99.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holdings Gp Man Blackstone III also recently made the following trade(s):

• On Monday, September 28th, Holdings Gp Man Blackstone III sold 3,767,776 shares of Bumble stock. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44.

Bumble Stock Up 0.2%

Shares of NASDAQ:BMBL opened at $5.94 on Friday. Bumble Inc. has a 12-month low of $2.44 and a 12-month high of $5.98. The company has a market capitalization of $783.90 million, a price-to-earnings ratio of -1.40 and a beta of 1.88. The business has a 50-day moving average price of $3.03 and a 200 day moving average price of $3.18. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65.

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

Institutional Trading of Bumble

Institutional investors have recently added to or reduced their stakes in the stock. Accel Growth Fund V Associates L.L.C. purchased a new position in shares of Bumble during the 2nd quarter worth $16,174,499. Renaissance Technologies LLC grew its holdings in Bumble by 48.6% in the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock valued at $13,737,000 after buying an additional 1,378,487 shares during the period. Pacer Advisors Inc. acquired a new position in Bumble during the first quarter worth approximately $2,039,000. Principal Financial Group Inc. increased its position in Bumble by 314.5% during the first quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock worth $1,986,000 after purchasing an additional 462,251 shares during the last quarter. Finally, RBF Capital LLC boosted its holdings in shares of Bumble by 86.9% in the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after purchasing an additional 449,866 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. 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 dropped their price target on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company cut their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. UBS Group upped their target price on Bumble from $3.00 to $6.05 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Susquehanna lowered their target price on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $4.12.

Key Stories Impacting Bumble

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

Bumble Company Profile

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.