Holdings Gp Man Blackstone III Sells 7,477,500 Shares of Bumble (NASDAQ:BMBL) Stock

Bumble Inc. (NASDAQ:BMBL) major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the business’s stock in a transaction on 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 owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Bumble Price Performance

BMBL opened at $2.96 on Friday. The firm has a market cap of $384.27 million, a price-to-earnings ratio of -0.51, a PEG ratio of 0.10 and a beta of 1.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s 50-day simple moving average is $3.44 and its 200-day simple moving average is $3.41. Bumble Inc. has a twelve month low of $2.61 and a twelve month high of $8.64.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $212.38 million during the quarter, compared to the consensus estimate of $211.59 million. Bumble had a negative net margin of 72.04% and a positive return on equity of 32.66%. The firm’s quarterly revenue was down 14.1% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Equities research analysts anticipate that Bumble Inc. will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Bumble

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Bumble by 409.3% during the first quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock worth $1,410,000 after purchasing an additional 261,281 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bumble in the first quarter valued at approximately $117,000. JPMorgan Chase & Co. increased its holdings in shares of Bumble by 709.1% in the second quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company’s stock valued at $4,704,000 after purchasing an additional 625,631 shares in the last quarter. Prudential Financial Inc. bought a new position in Bumble in the 2nd quarter worth approximately $392,000. Finally, New York State Common Retirement Fund raised its position in Bumble by 31.1% in the 2nd quarter. New York State Common Retirement Fund now owns 25,631 shares of the company’s stock worth $169,000 after purchasing an additional 6,077 shares during the last quarter. 94.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on BMBL shares. Citigroup reduced their target price on Bumble from $3.90 to $3.60 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Zacks Research raised Bumble from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $5.00 price objective on shares of Bumble in a research report on Wednesday, May 6th. Wells Fargo & Company reduced their price objective on Bumble from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. Finally, JPMorgan Chase & Co. upgraded Bumble from an “underweight” rating to a “neutral” rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bumble currently has an average rating of “Reduce” and an average 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.