Investors Purchase Large Volume of Put Options on Bumble (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading activity on Tuesday. Traders bought 36,440 put options on the company. This is an increase of approximately 1,180% compared to the typical volume of 2,847 put options.

Analyst Ratings Changes

A number of research firms recently commented on BMBL. The Goldman Sachs Group raised their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Citigroup raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Bumble has an average rating of “Hold” and a consensus price target of $8.50.

Bumble Stock Performance

BMBL traded down $0.36 during trading on Tuesday, hitting $8.10. The stock had a trading volume of 6,812,661 shares, compared to its average volume of 2,104,571. The firm has a market cap of $876.26 million, a PE ratio of -1.66 and a beta of 1.70. Bumble has a 12 month low of $4.80 and a 12 month high of $13.56. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a 50 day simple moving average of $8.04 and a 200-day simple moving average of $7.44.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in shares of Bumble during the 4th quarter worth about $56,000. Tower Research Capital LLC TRC increased its holdings in shares of Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after purchasing an additional 1,249 shares during the period. SG Americas Securities LLC bought a new position in shares of Bumble during the 3rd quarter worth about $71,000. Capital Management Associates Inc bought a new position in shares of Bumble during the 3rd quarter worth about $74,000. Finally, D.A. Davidson & CO. bought a new position in shares of Bumble during the 3rd quarter worth about $77,000. Institutional investors own 94.85% of the company’s stock.

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.