Bumble Target of Unusually Large Options Trading (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading on Thursday. Stock traders purchased 59,269 put options on the company. This represents an increase of 481% compared to the average volume of 10,208 put options.

Analysts Set New Price Targets

Several research firms have issued reports on BMBL. Deutsche Bank Aktiengesellschaft cut their price target on Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of Bumble in a research note on Wednesday, February 28th. Piper Sandler restated a “neutral” rating and set a $13.00 target price (down previously from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Evercore ISI increased their price target on Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, KeyCorp dropped their price objective on Bumble from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.05.

Bumble Stock Performance

NASDAQ:BMBL opened at $11.45 on Friday. The stock’s 50 day simple moving average is $10.71 and its two-hundred day simple moving average is $12.85. Bumble has a 1 year low of $9.83 and a 1 year high of $21.06. 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 company 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.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The company had revenue of $267.80 million for the quarter, compared to analysts’ expectations of $265.41 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Bumble will post 0.66 earnings per share for the current fiscal year.

Insider Transactions at Bumble

In other 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 sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC raised its position in Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,092 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Bumble by 2.7% in the fourth quarter. Clearbridge Investments LLC now owns 51,649 shares of the company’s stock worth $761,000 after purchasing an additional 1,369 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Bumble by 8.5% during the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after purchasing an additional 1,430 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Bumble by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 166,569 shares of the company’s stock valued at $2,485,000 after purchasing an additional 1,580 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Bumble by 73.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after purchasing an additional 2,210 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.