Bumble Sees Unusually Large Options Volume (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading activity on Monday. Traders purchased 30,307 call options on the stock. This represents an increase of approximately 210% compared to the typical volume of 9,765 call options.

Bumble Trading Up 1.4 %

BMBL stock traded up $0.10 during midday trading on Monday, hitting $7.41. 614,829 shares of the company’s stock were exchanged, compared to its average volume of 3,125,457. The business has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $8.92. Bumble has a 1-year low of $4.80 and a 1-year high of $15.90. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $935.13 million, a PE ratio of 43.00 and a beta of 1.66.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. Bumble’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, sell-side analysts predict that Bumble will post 0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMBL. Stifel Nicolaus cut Bumble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $6.50 in a research note on Thursday, August 8th. Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and lowered their target price for the company from $18.00 to $8.00 in a report on Thursday, August 8th. Finally, Susquehanna cut shares of Bumble from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $6.00 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.50.

Institutional Trading of Bumble

Several hedge funds have recently modified their holdings of BMBL. Virtu Financial LLC purchased a new stake in Bumble during the 4th quarter worth about $215,000. Vanguard Group Inc. raised its stake in shares of Bumble by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock worth $150,478,000 after buying an additional 495,671 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Bumble by 85.0% during the 1st quarter. 180 Wealth Advisors LLC now owns 42,126 shares of the company’s stock worth $478,000 after purchasing an additional 19,350 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Bumble during the first quarter worth about $937,000. Finally, Duality Advisers LP purchased a new position in shares of Bumble in the first quarter valued at $1,049,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.