Bumble (NASDAQ:BMBL) Shares Gap Up Following Earnings Beat

Shares of Bumble Inc. (NASDAQ:BMBL) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $10.27, but opened at $11.70. Bumble shares last traded at $10.83, with a volume of 1,676,583 shares traded.

The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $265.41 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. Bumble’s revenue for the quarter was up 10.3% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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 research note on Thursday. Morgan Stanley initiated coverage on Bumble in a report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price target for the company. Evercore ISI raised their price objective on Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday. Raymond James reiterated a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group dropped their price target on shares of Bumble from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.05.

Insider Buying and Selling at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BMBL. Headlands Technologies LLC lifted its position in shares of Bumble by 98.6% during the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,092 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Bumble during the 3rd quarter valued at $45,000. FNY Investment Advisers LLC purchased a new stake in Bumble during the 4th quarter worth about $68,000. Campbell & CO Investment Adviser LLC bought a new position in Bumble in the 3rd quarter worth about $161,000. Finally, Neo Ivy Capital Management purchased a new position in Bumble during the 4th quarter valued at about $162,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Performance

The stock has a market capitalization of $1.48 billion, a P/E ratio of -381.67, a PEG ratio of 0.28 and a beta of 1.67. 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 company has a 50-day moving average price of $10.71 and a two-hundred day moving average price of $12.85.

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.