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

Bumble Inc. (NASDAQ:BMBL) was the target of some unusual options trading activity on Monday. Investors acquired 50,261 put options on the company. This is an increase of approximately 403% compared to the average daily volume of 9,988 put options.

Insider Activity at Bumble

In other Bumble news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now owns 29,030 shares in the company, valued at approximately $331,232.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

Large investors have recently made changes to their positions in the company. Jump Financial LLC increased its stake in Bumble by 1,895.5% in the 4th quarter. Jump Financial LLC now owns 222,396 shares of the company’s stock valued at $3,278,000 after buying an additional 211,251 shares during the period. Janney Montgomery Scott LLC acquired a new position in Bumble in the 1st quarter valued at approximately $937,000. Allspring Global Investments Holdings LLC increased its stake in Bumble by 16.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after buying an additional 97,948 shares during the period. Duality Advisers LP acquired a new position in Bumble in the 1st quarter valued at approximately $1,049,000. Finally, Vanguard Group Inc. increased its stake in Bumble by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock valued at $150,478,000 after buying an additional 495,671 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Price Performance

BMBL stock traded down $0.37 on Monday, hitting $8.15. 1,767,535 shares of the company’s stock traded hands, compared to its average volume of 2,853,621. Bumble has a 1-year low of $7.73 and a 1-year high of $18.10. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 46.88 and a beta of 1.70. The stock has a fifty day moving average of $10.09 and a 200-day moving average of $11.18. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The business had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, analysts forecast that Bumble will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMBL. Wells Fargo & Company cut shares of Bumble from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $10.00 in a research report on Monday, July 8th. Evercore ISI upped their target price on shares of Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Citigroup reduced their price target on shares of Bumble from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, KeyCorp reduced their price target on shares of Bumble from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.72.

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.