Principal Financial Group Inc. Grows Position in Bumble Inc. $BMBL

Principal Financial Group Inc. boosted its position in Bumble Inc. (NASDAQ:BMBL) by 314.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609,226 shares of the company’s stock after acquiring an additional 462,251 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Bumble worth $1,986,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. EFG International AG purchased a new stake in shares of Bumble in the 4th quarter valued at approximately $25,000. Wexford Capital LP purchased a new stake in shares of Bumble during the 3rd quarter worth $31,000. HB Wealth Management LLC purchased a new stake in shares of Bumble during the 1st quarter worth $34,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Bumble during the 4th quarter worth $36,000. Finally, StoneX Group Inc. acquired a new position in shares of Bumble during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Trading Down 2.0%

BMBL opened at $2.91 on Friday. 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 Inc. has a 52 week low of $2.54 and a 52 week high of $7.95. The business’s 50 day moving average is $2.99 and its two-hundred day moving average is $3.29. The firm has a market cap of $377.78 million, a price-to-earnings ratio of -0.50, a price-to-earnings-growth ratio of 0.10 and a beta of 1.86.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.09. The business had revenue of $212.38 million during the quarter, compared to the consensus estimate of $211.59 million. Bumble had a positive return on equity of 32.66% and a negative net margin of 72.04%.The company’s revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. On average, research analysts predict that Bumble Inc. will post 1.03 EPS for the current year.

Insider Transactions at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of Bumble stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the company’s stock in a transaction dated 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 directly owned 19,374 shares of the company’s stock, valued at $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,954,026 shares of company stock worth $113,182,633 over the last 90 days. Company insiders own 15.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BMBL. Citigroup cut their price target on Bumble from $3.90 to $3.60 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $5.00 price objective on shares of Bumble in a research report on Wednesday, May 6th. Weiss Ratings downgraded Bumble from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Wall Street Zen raised Bumble from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, UBS Group boosted their target price on Bumble from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $4.33.

About Bumble

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.