Investors Buy High Volume of Put Options on Bumble (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBLGet Free Report) was the recipient of some unusual options trading on Friday. Traders bought 23,584 put options on the company. This represents an increase of 78% compared to the average daily volume of 13,257 put options.

Bumble Stock Performance

Shares of Bumble stock opened at $9.34 on Friday. The firm has a market cap of $1.18 billion, a P/E ratio of 54.94 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble has a 12 month low of $9.29 and a 12 month high of $21.06. The stock’s fifty day moving average price is $10.89 and its 200-day moving average price is $11.96.

Bumble (NASDAQ:BMBLGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that Bumble will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BMBL has been the topic of several recent research reports. 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 on the stock. Bank of America upgraded Bumble from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Friday, May 10th. Evercore ISI increased their price target on Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Raymond James restated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Finally, KeyCorp reduced their target price on Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.89.

Check Out Our Latest Stock Report on BMBL

Insider Activity

In other news, Director Ann Mather sold 7,492 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the transaction, the director now directly owns 29,030 shares in the company, valued at approximately $331,232.30. 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 Investors Weigh In On Bumble

Several institutional investors have recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in Bumble by 2.0% in the first quarter. Boston Partners now owns 746,483 shares of the company’s stock worth $8,348,000 after acquiring an additional 14,309 shares in the last quarter. FourWorld Capital Management LLC acquired a new stake in Bumble in the first quarter worth about $165,000. Janus Henderson Group PLC boosted its holdings in Bumble by 300.0% in the first quarter. Janus Henderson Group PLC now owns 163,332 shares of the company’s stock worth $1,854,000 after acquiring an additional 122,504 shares in the last quarter. Joho Capital LLC acquired a new stake in Bumble in the first quarter worth about $6,242,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in Bumble in the first quarter worth about $284,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

About Bumble

(Get Free Report)

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.

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