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

Bumble Inc. (NASDAQ:BMBL) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 12,630,000 shares, an increase of 8.9% from the May 31st total of 11,600,000 shares. Currently, 14.3% of the company’s shares are short sold. Based on an average trading volume of 2,750,000 shares, the days-to-cover ratio is currently 4.6 days.

Bumble Stock Performance

NASDAQ:BMBL traded up $0.06 during midday trading on Wednesday, reaching $9.70. The stock had a trading volume of 954,196 shares, compared to its average volume of 2,832,352. The stock has a market capitalization of $1.22 billion, a P/E ratio of 56.71 and a beta of 1.70. Bumble has a 1-year low of $9.52 and a 1-year high of $21.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. The firm’s fifty day simple moving average is $10.94 and its 200-day simple moving average is $12.03.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (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 company had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. During the same period last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Bumble will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Bumble from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Bank of America upgraded shares of Bumble from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, May 10th. Morgan Stanley assumed coverage on shares of Bumble in a research note on Thursday, April 18th. They set an “equal weight” rating and a $13.00 target price for the company. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.89.

Insider Activity at Bumble

In other Bumble news, Director Ann Mather sold 7,492 shares of the business’s stock in a transaction 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 sale, 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 SEC, which is available through the SEC website. 7.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Bumble by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after acquiring an additional 297,286 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after purchasing an additional 347,238 shares during the period. Jump Financial LLC grew its position in Bumble by 1,895.5% in the 4th quarter. Jump Financial LLC now owns 222,396 shares of the company’s stock worth $3,278,000 after purchasing an additional 211,251 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 97,948 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 397,741 shares during the last quarter. 94.85% of the stock is owned by institutional investors.

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.