Investors Buy High Volume of Put Options on Bumble (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the target of unusually large options trading activity on Friday. Traders purchased 23,584 put options on the stock. This represents an increase of 78% compared to the typical daily volume of 13,257 put options.

Insiders Place Their Bets

In related news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction on Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now owns 29,030 shares of the company’s stock, valued at $331,232.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

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

Bumble Stock Performance

Shares of NASDAQ BMBL traded down $0.30 during midday trading on Friday, hitting $9.40. 407,172 shares of the stock traded hands, compared to its average volume of 2,813,405. The firm has a market capitalization of $1.19 billion, a P/E ratio of 57.06 and a beta of 1.70. Bumble has a one year low of $9.36 and a one year high of $21.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a 50-day moving average of $10.91 and a two-hundred day moving average of $12.00.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. On average, equities analysts forecast that Bumble will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI lifted their price objective on Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Raymond James reissued a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. KeyCorp cut their target price on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Bank of America raised shares of Bumble from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, May 10th. Finally, Morgan Stanley assumed coverage on shares of Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bumble has an average rating of “Moderate Buy” and a consensus price target of $15.89.

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.