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

Bumble Inc. (NASDAQ:BMBL) saw some unusual options trading on Monday. Investors purchased 20,284 put options on the company. This is an increase of 461% compared to the typical daily volume of 3,613 put options.

Analyst Ratings Changes

BMBL has been the subject of several recent analyst reports. Citigroup raised their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Susquehanna raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and set a $8.00 target price (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.38.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in Bumble in the 2nd quarter valued at $24,121,000. The Manufacturers Life Insurance Company grew its stake in shares of Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after acquiring an additional 297,057 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after purchasing an additional 206,215 shares during the last quarter. AXA S.A. lifted its position in shares of Bumble by 1,589.8% during the second quarter. AXA S.A. now owns 191,064 shares of the company’s stock valued at $2,008,000 after purchasing an additional 179,757 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Bumble during the second quarter worth about $1,716,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

Shares of BMBL opened at $7.92 on Wednesday. The firm has a market capitalization of $856.80 million, a P/E ratio of -1.62 and a beta of 1.71. Bumble has a 52 week low of $4.80 and a 52 week high of $15.33. The stock has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $7.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

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.