Bumble: Analysts Assign ‘Reduce’ Consensus as Insiders Sell Large Blocks
Recent analyst notes
Several firms have updated their views on Bumble recently. Weiss Ratings reiterated a “sell (d)” rating on September 27. Morgan Stanley raised its target from $5.50 to $6.00 and maintained an “equal weight” view on August 8. UBS Group lifted its price target from $6.00 to $7.50 and issued a “neutral” recommendation on July 23. Wells Fargo reaffirmed a “positive” stance on June 27, and Zacks Research moved Bumble to a “hold” rating on August 8. MarketBeat also provides a free report on BMBL for readers seeking more detail.
Price performance and fundamentals
Bumble (NASDAQ:BMBL) opened at $5.86 on Monday. The company carries a market capitalization around $609.5 million, a negative price-to-earnings ratio (-1.20), a PEG of 0.82 and a beta of 1.94. Bumble reports a debt-to-equity ratio of 1.00 with both a quick ratio and current ratio of 3.30. The 50-day moving average sits near $6.68 and the 200-day around $5.84; the 52-week range is $3.55 to $9.22. For another market view, see the Bumble stock forecast on MarketBeat here.
Quarterly results
On August 6, Bumble reported quarterly EPS of $0.64, beating consensus estimates of $0.37 by $0.27. Revenue for the quarter was $248.23 million versus estimates of $243.72 million, though revenue declined 7.6% year over year. The company showed a negative net margin of 82.41% and a positive return on equity of 10.35%. Analysts currently expect Bumble to post 4.19 EPS for the current year, per MarketBeat’s aggregation.
Insider selling
Insider activity has been significant. Major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares on August 13 at an average price of $6.26, a transaction disclosed with the SEC at this filing. In the same filing period, Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares at the same average price; that disclosure is available here. Over the past 90 days insiders have sold 68,124,652 shares valued at approximately $426.46 million; insiders collectively own 15.84% of the stock.
Institutional ownership
Institutional activity remains high: Two Sigma Investments LP established a new stake in the fourth quarter valued at about $476,000. UBS AM (a business unit of UBS Asset Management Americas) boosted its stake by roughly 26.2% in the fourth quarter and now holds 231,876 shares valued at about $1.887 million. Other recent moves include new positions from Ieq Capital LLC and XTX Topco Ltd, and a 7.6% stake increase by Principal Financial Group Inc. Hedge funds and institutional investors own roughly 94.85% of Bumble’s shares.
Company profile
Bumble Inc. operates online dating and social networking platforms globally. Its portfolio includes the Bumble dating app (where women make the first move), Badoo, Bumble BFF and Bumble Bizz modes, a joint “Official” app feature for linked partner profiles, and Fruitz, an app that encourages users to share dating intentions up front. MarketBeat offers a free company report for readers seeking more financial detail.
