Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 12,630,000 shares, a growth of 8.9% from the May 31st total of 11,600,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is presently 4.6 days. Currently, 14.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

BMBL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bumble from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group lowered their price target on Bumble from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Bank of America raised Bumble from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, May 10th. KeyCorp lowered their target price on Bumble from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Evercore ISI lifted their target price on Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.89.

Insider Activity

In other Bumble news, Director Ann Mather sold 7,492 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the sale, the director now owns 29,030 shares in the company, valued at approximately $331,232.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Bumble by 6.0% during the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after buying an additional 613,759 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Bumble by 4.4% during the third quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after purchasing an additional 347,238 shares during the period. Dimensional Fund Advisors LP grew its position in Bumble by 39.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after buying an additional 1,013,374 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after buying an additional 397,741 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Bumble by 15.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock worth $28,446,000 after buying an additional 258,288 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Up 0.6 %

Shares of BMBL traded up $0.06 during mid-day trading on Wednesday, reaching $9.70. The company’s stock had a trading volume of 954,196 shares, compared to its average volume of 2,832,352. The company’s 50 day moving average is $10.94 and its 200 day moving average is $12.03. The stock has a market cap of $1.22 billion, a PE ratio of 56.71 and a beta of 1.70. Bumble has a 12-month low of $9.52 and a 12-month high of $21.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $267.80 million for the quarter, compared to analysts’ expectations of $265.41 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. Equities analysts anticipate that Bumble will post 0.9 EPS for the current fiscal year.

Bumble Company Profile

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.