Bumble Inc. (NASDAQ:BMBL) Short Interest Down 5.1% in May

Posted by on Jun 1st, 2023

Bumble Inc. (NASDAQ:BMBL – Get Rating) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 6,710,000 shares, a decline of 5.1% from the April 30th total of 7,070,000 shares. Based on an average daily volume of 2,760,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 7.1% of the shares of the stock are sold short.

Insider Buying and Selling at Bumble

In other news, major shareholder Holdings Gp Man Blackstone III sold 11,750,000 shares of Bumble stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $22.17, for a total transaction of $260,497,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Bumble news, Director Matthew S. Bromberg sold 12,096 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $17.17, for a total transaction of $207,688.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings Gp Man Blackstone III sold 11,750,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $22.17, for a total transaction of $260,497,500.00. The disclosure for this sale can be found here. 7.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently modified their holdings of BMBL. Raymond James & Associates raised its position in Bumble by 23.5% in the 1st quarter. Raymond James & Associates now owns 88,080 shares of the company’s stock worth $2,553,000 after buying an additional 16,777 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Bumble during the first quarter valued at approximately $491,000. Bank of Montreal Can purchased a new stake in Bumble in the first quarter worth approximately $295,000. Allianz Asset Management GmbH grew its position in Bumble by 43.8% in the 1st quarter. Allianz Asset Management GmbH now owns 15,316 shares of the company’s stock worth $444,000 after purchasing an additional 4,662 shares during the period. Finally, Vanguard Group Inc. raised its stake in Bumble by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 7,285,122 shares of the company’s stock valued at $211,123,000 after buying an additional 68,604 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BMBL shares. Wolfe Research restated a “peer perform” rating on shares of Bumble in a research report on Thursday, February 23rd. Morgan Stanley increased their price objective on Bumble from $20.00 to $21.00 in a report on Monday, March 20th. Royal Bank of Canada raised their price target on Bumble from $23.00 to $27.00 in a research note on Thursday, February 23rd. Jefferies Financial Group reduced their price objective on shares of Bumble from $24.00 to $20.00 in a research report on Monday, May 1st. Finally, Susquehanna cut their target price on shares of Bumble from $30.00 to $25.00 in a research note on Monday, May 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.65.

Bumble Stock Down 6.1 %

Shares of Bumble stock opened at $15.30 on Thursday. The company has a 50-day simple moving average of $17.68 and a two-hundred day simple moving average of $21.06. Bumble has a 52-week low of $14.73 and a 52-week high of $39.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market capitalization of $2.10 billion, a PE ratio of -20.40 and a beta of 1.81.

Bumble (NASDAQ:BMBL – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $242.95 million during the quarter, compared to the consensus estimate of $240.92 million. Bumble had a negative net margin of 10.51% and a positive return on equity of 1.50%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. On average, analysts anticipate that Bumble will post 0.23 EPS for the current fiscal year.

Bumble Company Profile

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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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.

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