Short Interest in Bumble Inc. (NASDAQ:BMBL) Increases By 8.9%

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large growth in short interest in 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. Currently, 14.3% of the company’s stock are sold short. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is currently 4.6 days.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently bought and sold shares of BMBL. Vanguard Group Inc. grew its stake in Bumble by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after purchasing an additional 297,286 shares during the period. Wellington Management Group LLP grew its stake 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 worth $123,895,000 after acquiring an additional 347,238 shares during the period. Jump Financial LLC grew its stake in shares of Bumble by 1,895.5% during the 4th quarter. Jump Financial LLC now owns 222,396 shares of the company’s stock worth $3,278,000 after acquiring an additional 211,251 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Bumble by 16.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock worth $10,076,000 after acquiring an additional 97,948 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Bumble by 12.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after purchasing an additional 397,741 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Performance

NASDAQ:BMBL opened at $9.93 on Tuesday. The stock has a market cap of $1.25 billion, a P/E ratio of 58.41 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $10.95 and its 200-day moving average is $12.07. Bumble has a 1-year low of $9.73 and a 1-year high of $21.06.

Bumble (NASDAQ:BMBL) last announced its 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. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The business had revenue of $267.80 million for the quarter, compared to analysts’ expectations of $265.41 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Bumble will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BMBL shares. Bank of America raised shares of Bumble from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, May 9th. KeyCorp dropped 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. Morgan Stanley initiated coverage on Bumble in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price target for the company. Finally, Evercore ISI boosted their price target on Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bumble presently has an average rating of “Moderate Buy” and an average 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.