Traders Purchase High Volume of Bumble Put Options (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading on Friday. Investors bought 23,584 put options on the company. This represents an increase of 78% compared to the typical volume of 13,257 put options.

Insider Buying and Selling

In other news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of 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 accessible through this hyperlink. Corporate insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

Large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bumble in the 3rd quarter valued at $237,000. Trexquant Investment LP bought a new position in Bumble during the 3rd quarter worth approximately $293,000. Tower Research Capital LLC TRC lifted its position in shares of Bumble by 391.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 20,754 shares of the company’s stock worth $310,000 after purchasing an additional 16,533 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Bumble by 15.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock valued at $28,446,000 after purchasing an additional 258,288 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in Bumble by 2.3% during the third quarter. TimesSquare Capital Management LLC now owns 1,349,951 shares of the company’s stock worth $20,141,000 after buying an additional 30,955 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Performance

Bumble stock traded down $0.30 during midday trading on Friday, hitting $9.40. The company’s stock had a trading volume of 407,172 shares, compared to its average volume of 2,813,405. 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 company has a market cap of $1.19 billion, a price-to-earnings ratio of 57.06 and a beta of 1.70. Bumble has a 1-year low of $9.36 and a 1-year high of $21.06. The company has a 50-day moving average price of $10.91 and a two-hundred day moving average price of $12.00.

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 business had revenue of $267.80 million during the quarter, compared to analysts’ expectations of $265.41 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bumble will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMBL has been the topic of several research reports. KeyCorp cut their target price on Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Bank of America raised 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bumble from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Evercore ISI raised their price objective on Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, The Goldman Sachs Group cut their price objective on Bumble from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Bumble currently has a consensus rating of “Moderate Buy” and a consensus 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.