Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 11,890,000 shares, an increase of 6.0% from the March 15th total of 11,220,000 shares. Based on an average daily volume of 2,970,000 shares, the days-to-cover ratio is currently 4.0 days. Approximately 12.6% of the company’s shares are sold short.

Insider Transactions at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 7.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Bumble by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after acquiring an additional 297,286 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after acquiring an additional 347,238 shares in the last quarter. Hudson Bay Capital Management LP raised its position in shares of Bumble by 800.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock worth $6,714,000 after acquiring an additional 400,000 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of Bumble in the 3rd quarter worth $753,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Bumble by 15.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock worth $28,446,000 after acquiring an additional 258,288 shares in the last quarter. 94.85% of the stock is owned by institutional investors.

Bumble Trading Down 0.8 %

Shares of NASDAQ BMBL opened at $10.04 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $11.63 and a two-hundred day simple moving average of $13.26. The firm has a market cap of $1.30 billion, a PE ratio of -334.67, a price-to-earnings-growth ratio of 0.30 and a beta of 1.68. Bumble has a twelve month low of $9.99 and a twelve month high of $21.06.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.31). The company had revenue of $273.64 million during the quarter, compared to the consensus estimate of $275.38 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. Analysts expect that Bumble will post 0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James restated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Morgan Stanley dropped their price objective on Bumble from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. KeyCorp dropped their price objective on Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

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.