Bumble (NASDAQ:BMBL) Shares Climb 47.6% – Time to Buy?

Bumble Inc. (NASDAQ:BMBL)’s share price was up 47.6% on Monday. The stock traded as high as $3.08 and last traded at $3.7490. 4,508,174 shares were traded during trading, an increase of 37% from the average daily volume of 3,294,054 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

A number of research firms recently commented on BMBL. Wall Street Zen lowered Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a report on Tuesday, August 4th. Susquehanna decreased their price target 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. Wells Fargo & Company lowered their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. One analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Bumble currently has an average rating of “Reduce” and an average target price of $3.87.

Bumble Trading Up 47.6%

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.62 and a quick ratio of 1.62. The business’s 50-day simple moving average is $2.78 and its two-hundred day simple moving average is $3.10. The stock has a market capitalization of $494.76 million, a price-to-earnings ratio of -0.90 and a beta of 1.88.

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

Insider Activity

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider directly owned 16,120 shares of the company’s stock, valued at $47,392.80. This represents a 99.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 3,767,776 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the sale, the insider owned 16,120 shares of the company’s stock, valued at $47,392.80. This represents a 99.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,073,811 shares of company stock valued at $44,316,003 in the last 90 days. Company insiders own 15.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC grew its stake in Bumble by 10.1% during the 2nd quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock valued at $165,000 after purchasing an additional 4,746 shares in the last quarter. L2 Asset Management LLC acquired a new position in shares of Bumble in the 2nd quarter valued at approximately $42,000. Globeflex Capital L P purchased a new position in shares of Bumble during the 2nd quarter valued at approximately $70,000. Accel Growth Fund V Associates L.L.C. purchased a new position in shares of Bumble during the 2nd quarter valued at approximately $16,174,499. Finally, Bank of New York Mellon Corp purchased a new position in shares of Bumble during the 2nd quarter valued at approximately $1,035,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.