Bumble Sees Unusually Large Options Volume (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading on Thursday. Stock traders bought 59,269 put options on the company. This represents an increase of approximately 481% compared to the typical daily volume of 10,208 put options.

Bumble Price Performance

NASDAQ:BMBL opened at $11.45 on Friday. The stock’s 50-day simple moving average is $10.71 and its 200 day simple moving average is $12.85. Bumble has a 52-week low of $9.83 and a 52-week high of $21.06. 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 company has a market cap of $1.48 billion, a P/E ratio of -381.67, a P/E/G ratio of 0.28 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last issued its earnings results 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 business had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. During the same period in the previous year, the company earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts forecast that Bumble will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BMBL shares. KeyCorp lowered their price objective on Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Susquehanna cut their target price on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research report on Thursday, February 29th. The Goldman Sachs Group lowered their price target on Bumble from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bumble currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.05.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BMBL. Headlands Technologies LLC increased its position in Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after buying an additional 1,092 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Bumble in the 3rd quarter valued at about $45,000. FNY Investment Advisers LLC bought a new stake in Bumble in the 4th quarter valued at about $68,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Bumble during the 3rd quarter worth approximately $161,000. Finally, Neo Ivy Capital Management bought a new position in shares of Bumble during the fourth quarter worth approximately $162,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.