Voya Investment Management LLC Reduces Position in Bumble Inc. $BMBL

Voya Investment Management LLC lessened its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 17.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,406 shares of the company’s stock after selling 5,195 shares during the period. Voya Investment Management LLC’s holdings in Bumble were worth $106,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new stake in shares of Bumble in the 1st quarter valued at $3,231,000. PDT Partners LLC boosted its holdings in shares of Bumble by 242.6% in the 1st quarter. PDT Partners LLC now owns 743,743 shares of the company’s stock valued at $3,228,000 after acquiring an additional 526,629 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Bumble in the 1st quarter valued at $1,196,000. Royal Bank of Canada boosted its holdings in shares of Bumble by 409.3% in the 1st quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock valued at $1,410,000 after acquiring an additional 261,281 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Bumble in the 1st quarter valued at $808,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analyst Weigh In

BMBL has been the topic of several recent research reports. Susquehanna reaffirmed a “neutral” rating and issued a $7.00 price objective (up from $5.00) on shares of Bumble in a report on Monday, August 11th. Royal Bank Of Canada upped their price objective on shares of Bumble from $7.00 to $7.50 and gave the company an “outperform” rating in a report on Thursday, August 7th. UBS Group upped their price objective on shares of Bumble from $6.00 to $7.50 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Morgan Stanley upped their price objective on shares of Bumble from $5.50 to $6.00 and gave the company an “equal weight” rating in a report on Friday, August 8th. Finally, Zacks Research raised shares of Bumble to a “hold” rating in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.63.

Insider Transactions at Bumble

In other Bumble news, CEO Whitney Wolfe Herd sold 1,365,116 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $8,545,626.16. Following the completion of the transaction, the chief executive officer owned 1,598,258 shares of the company’s stock, valued at $10,005,095.08. This trade represents a 46.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. Insiders have sold a total of 68,124,652 shares of company stock valued at $426,460,322 in the last three months. 15.84% of the stock is currently owned by corporate insiders.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $6.03 on Thursday. The firm has a 50-day simple moving average of $6.78 and a 200-day simple moving average of $5.81. The stock has a market capitalization of $627.18 million, a price-to-earnings ratio of -1.23, a price-to-earnings-growth ratio of 0.85 and a beta of 1.94. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $9.22.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The business had revenue of $248.23 million during the quarter, compared to analysts’ expectations of $243.72 million. During the same period in the prior year, the business earned $0.22 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities analysts predict that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

About Bumble

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.