Bumble (NASDAQ:BMBL) Major Shareholder Sells 2,763,510 Shares of Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the transaction, the insider owned 13,733 shares of the company’s stock, valued at approximately $48,614.82. This represents a 99.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44.

Bumble Stock Up 0.3%

BMBL traded up $0.02 during trading hours on Wednesday, reaching $5.97. 39,295,089 shares of the stock traded hands, compared to its average volume of 9,838,894. Bumble Inc. has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. 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 company has a market cap of $787.86 million, a price-to-earnings ratio of 2.69 and a beta of 1.88. The firm’s fifty day simple moving average is $2.85 and its two-hundred day simple moving average is $3.13.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share 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 analysts’ expectations 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 quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company earned ($2.45) earnings per share. As a group, analysts forecast that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Bumble News Roundup

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca will pay Bumble shareholders $6.05 per Class A share, representing an approximately 138% premium to Bumble’s unaffected October 9 closing price. The transaction provides a defined cash-exit value and would take Bumble private. Bumble acquisition announcement
• Positive Sentiment: The announced premium has driven a major repricing in BMBL, with reports describing the stock as up roughly 138% for the week. The deal also reduces investor exposure to Bumble’s ongoing turnaround challenges, including weak user engagement and declining paying users. Reuters Bumble take-private report
• Neutral Sentiment: BMBL is trading close to the proposed $6.05 consideration, leaving only a relatively small spread for investors. Further upside may therefore depend on deal completion rather than Bumble’s standalone operating performance. The transaction remains subject to customary closing conditions and shareholder approval. Yahoo Finance acquisition report
• Negative Sentiment: Several law firms, including Bleichmar Fonti & Auld, Kahn Swick & Foti, and Ademi, have announced investigations into whether the $6.05 price and sale process fairly value Bumble and adequately protect shareholders. These announcements are typically investor solicitations and do not establish wrongdoing, but they could create litigation, delay, or additional uncertainty around the merger. BFA Law Bumble investigation

Institutional Trading of Bumble

Institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC acquired a new stake in shares of Bumble during the first quarter worth $34,000. L2 Asset Management LLC bought a new position in shares of Bumble in the 2nd quarter worth about $42,000. R Squared Ltd acquired a new position in shares of Bumble in the 1st quarter valued at about $48,000. Abel Hall LLC boosted its holdings in shares of Bumble by 49.4% in the 1st quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock valued at $57,000 after buying an additional 5,793 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Bumble in the 1st quarter valued at about $63,000. Institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial restated a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Royal Bank Of Canada cut their price objective on 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 reduced their target price on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings upgraded 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 given a Sell rating to the stock. Based on data from MarketBeat, Bumble has an average rating of “Reduce” and a consensus price target of $4.12.

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.