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

Bumble Inc. (NASDAQ:BMBL) was the target 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. Approximately 14.3% of the company’s shares are short sold. Based on an average daily volume of 2,750,000 shares, the short-interest ratio is currently 4.6 days.

Insiders Place Their Bets

In other Bumble news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $11.41, for a total value of $85,483.72. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently added to or reduced their stakes in BMBL. Headlands Technologies LLC boosted its holdings in Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,092 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Bumble in the fourth quarter worth $68,000. EverSource Wealth Advisors LLC raised its stake in shares of Bumble by 73.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after purchasing an additional 2,210 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Bumble in the fourth quarter worth $162,000. Finally, FourWorld Capital Management LLC purchased a new stake in Bumble during the first quarter valued at $165,000. 94.85% of the stock is owned by institutional investors.

Bumble Trading Up 0.6 %

NASDAQ BMBL opened at $9.70 on Thursday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $10.93 and its 200 day moving average is $12.01. Bumble has a twelve month low of $9.52 and a twelve month high of $21.06. The firm has a market capitalization of $1.22 billion, a PE ratio of 57.06 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping 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 the consensus estimate of $265.41 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts forecast that Bumble will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on BMBL shares. 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 on the stock. KeyCorp cut 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, May 6th. Raymond James reiterated a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Evercore ISI lifted their price objective on Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Bumble from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Bumble presently has an average rating of “Moderate Buy” and an average price target of $15.89.

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.