Weiss Ratings Reaffirms “Sell (D-)” Rating for Bumble (NASDAQ:BMBL)

Bumble (NASDAQ:BMBL)‘s stock had its “sell (d-)” rating restated by research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

BMBL has been the topic of several other reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of Bumble in a report on Friday, October 3rd. Wells Fargo & Company reissued a “positive” rating on shares of Bumble in a report on Friday, June 27th. Bank of America raised their target price on shares of Bumble from $5.25 to $5.50 and gave the stock an “underperform” rating in a report on Wednesday, July 2nd. Zacks Research raised shares of Bumble to a “hold” rating in a report on Friday, August 8th. Finally, UBS Group raised their target price on shares of Bumble from $6.00 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.46.

Bumble Stock Up 3.0%

Bumble stock opened at $5.50 on Tuesday. The stock has a market cap of $572.06 million, a P/E ratio of -1.12, a P/E/G ratio of 0.74 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 has a twelve month low of $3.55 and a twelve month high of $9.22. The company’s 50-day moving average price is $6.33 and its two-hundred day moving average price is $5.88.

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

Insiders Place Their Bets

In related news, CEO Whitney Wolfe Herd sold 1,365,116 shares of Bumble stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $8,545,626.16. Following the transaction, the chief executive officer directly 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 legal filing with the SEC, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Bumble 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 sold a total of 68,127,359 shares of company stock valued at $426,476,076 over the last three months. 15.84% of the stock is owned by corporate insiders.

Institutional Trading of Bumble

A number of hedge funds have recently added to or reduced their stakes in BMBL. Tyche Wealth Partners LLC acquired a new stake in Bumble in the first quarter valued at approximately $52,000. Teacher Retirement System of Texas acquired a new stake in Bumble in the first quarter valued at approximately $49,000. Principal Financial Group Inc. boosted its position in Bumble by 7.6% in the first quarter. Principal Financial Group Inc. now owns 170,822 shares of the company’s stock valued at $741,000 after buying an additional 12,032 shares in the last quarter. Westbourne Investment Advisors Inc. boosted its position in Bumble by 6.3% in the first quarter. Westbourne Investment Advisors Inc. now owns 517,212 shares of the company’s stock valued at $2,245,000 after buying an additional 30,766 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Bumble by 40.0% in the first quarter. Cerity Partners LLC now owns 17,105 shares of the company’s stock valued at $74,000 after buying an additional 4,885 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.