Short Interest in Bumble Inc. (NASDAQ:BMBL) Increases By 6.0%

Bumble Inc. (NASDAQ:BMBL) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 11,890,000 shares, a growth of 6.0% from the March 15th total of 11,220,000 shares. Based on an average daily volume of 2,970,000 shares, the short-interest ratio is currently 4.0 days. Approximately 12.6% of the company’s stock are sold short.

Analyst Ratings Changes

BMBL has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. KeyCorp cut their price target on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Bumble from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. BTIG Research cut their target price on Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $16.00 price target on shares of Bumble in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.13.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.56% of the company’s stock.

Institutional Investors Weigh In On Bumble

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Bumble by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock valued at $150,478,000 after purchasing an additional 495,671 shares in the last quarter. BlackRock Inc. raised its stake in shares of Bumble by 10.1% in the second quarter. BlackRock Inc. now owns 10,030,155 shares of the company’s stock worth $168,306,000 after buying an additional 923,644 shares during the period. Wellington Management Group LLP lifted its position in shares of Bumble by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after buying an additional 347,238 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after acquiring an additional 1,013,374 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after acquiring an additional 397,741 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.

Bumble Trading Up 0.6 %

Shares of NASDAQ:BMBL opened at $10.10 on Thursday. Bumble has a 52-week low of $9.99 and a 52-week high of $21.06. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -336.67, a PEG ratio of 0.28 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01. The stock’s 50-day simple moving average is $11.57 and its two-hundred day simple moving average is $13.24.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The business had revenue of $273.64 million during the quarter, compared to analysts’ expectations of $275.38 million. Analysts expect that Bumble will post 0.66 EPS for the current 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.