Bumble (NASDAQ:BMBL) Shares Gap Up on Earnings Beat

Bumble Inc. (NASDAQ:BMBL)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $10.27, but opened at $11.70. Bumble shares last traded at $10.83, with a volume of 1,676,583 shares.

The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The company had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. During the same period last year, the firm posted ($0.01) EPS. Bumble’s revenue for the quarter was up 10.3% compared to the same quarter last year.

Analyst Ratings Changes

BMBL has been the topic of several recent research reports. Morgan Stanley started coverage on shares of Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Bumble from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday. KeyCorp decreased their price target on Bumble from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. Evercore ISI raised their price objective on shares of Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Susquehanna cut their target price on shares of Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.05.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in shares of Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after buying an additional 1,092 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Bumble in the 3rd quarter worth approximately $45,000. FNY Investment Advisers LLC acquired a new position in shares of Bumble during the 4th quarter worth approximately $68,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Bumble during the 3rd quarter worth approximately $161,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Bumble in the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -381.67, a PEG ratio of 0.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a fifty day moving average of $10.71 and a 200 day moving average of $12.85.

Bumble Company Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.