Bumble (NASDAQ:BMBL) Reaches New 12-Month High – Here’s What Happened

Bumble Inc. (NASDAQ:BMBL)’s share price reached a new 52-week high on Thursday. The stock traded as high as $6.04 and last traded at $6.01, with a volume of 4,032,199 shares. The stock had previously closed at $5.99.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. UBS Group raised their price objective on Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a report on Wednesday, October 14th. Royal Bank Of Canada dropped their target price on Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. Wells Fargo & Company reduced their target price on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $4.04.

Bumble Stock Up 0.3%

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

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

Insider Buying and Selling at Bumble

In other Bumble news, major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider directly owned 16,120 shares of the company’s stock, valued at $47,392.80. This trade represents a 99.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares in the company, valued at approximately $47,392.80. This represents a 99.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 26,127,851 shares of company stock worth $83,447,304. 15.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bumble

Large investors have recently modified their holdings of the stock. HB Wealth Management LLC purchased a new position in Bumble in the 1st quarter worth approximately $34,000. Seven Mile Advisory acquired a new stake in Bumble during the 3rd quarter valued at $40,000. R Squared Ltd purchased a new stake in Bumble during the 3rd quarter worth $41,000. L2 Asset Management LLC purchased a new stake in Bumble during the 2nd quarter worth $42,000. Finally, StoneX Group Inc. lifted its holdings in 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 buying an additional 5,339 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Company Profile

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.