Bumble Inc. (NASDAQ:BMBL) Receives Average Rating of “Reduce” from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have been given an average rating of “Reduce” by the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.3357.

Several brokerages have issued reports on BMBL. Susquehanna reiterated a “neutral” rating and issued a $3.50 price objective on shares of Bumble in a research report on Thursday, March 12th. Citigroup raised their target price on Bumble from $3.80 to $3.90 and gave the company a “neutral” rating in a research note on Thursday, March 12th. William Blair reaffirmed an “outperform” rating on shares of Bumble in a report on Monday, March 16th. Zacks Research upgraded shares of Bumble from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Bumble from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Thursday, December 11th.

Bumble Price Performance

Shares of BMBL opened at $3.22 on Monday. The company has a market capitalization of $418.02 million, a P/E ratio of -0.53, a PEG ratio of 0.11 and a beta of 1.96. Bumble has a one year low of $2.61 and a one year high of $8.64. The business’s 50 day simple moving average is $3.26 and its 200-day simple moving average is $4.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.21 and a quick ratio of 2.21.

Insider Activity at Bumble

In other news, major shareholder Buzz Holdings L.P. Bcp sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the sale, the insider directly owned 25,832 shares of the company’s stock, valued at $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings Gp Man Blackstone III sold 7,477,504 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,910,016 shares of company stock valued at $104,984,156 over the last ninety days. Company insiders own 15.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Bumble by 409.3% during the first quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock worth $1,410,000 after acquiring an additional 261,281 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Bumble in the first quarter worth about $117,000. Creative Planning increased its position in Bumble by 488.1% in the second quarter. Creative Planning now owns 81,043 shares of the company’s stock worth $534,000 after purchasing an additional 67,262 shares during the period. Swiss National Bank raised its holdings in Bumble by 3.0% during the 2nd quarter. Swiss National Bank now owns 151,200 shares of the company’s stock worth $996,000 after purchasing an additional 4,400 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Bumble by 709.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company’s stock worth $4,704,000 after purchasing an additional 625,631 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Company Profile

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.