Bumble Inc. (NASDAQ:BMBL) Short Interest Up 43.0% in August

Bumble Inc. (NASDAQ:BMBL) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 17,500,000 shares, a growth of 43.0% from the July 31st total of 12,240,000 shares. Approximately 19.1% of the shares of the stock are short sold. Based on an average daily volume of 3,620,000 shares, the short-interest ratio is currently 4.8 days.

Bumble Stock Up 1.8 %

Shares of NASDAQ BMBL traded up $0.12 during mid-day trading on Friday, hitting $6.71. The company had a trading volume of 2,594,190 shares, compared to its average volume of 3,248,698. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $10.21. The company has a market capitalization of $846.80 million, a PE ratio of 39.47 and a beta of 1.70. Bumble has a one year low of $4.80 and a one year high of $17.31.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. On average, equities analysts expect that Bumble will post 0.9 EPS for the current year.

Insider Transactions at Bumble

In related news, Director Ann Mather sold 7,492 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 29,030 shares of the company’s stock, valued at $331,232.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bumble

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC raised its stake in Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after buying an additional 1,092 shares during the period. Clearbridge Investments LLC lifted its holdings in Bumble by 2.7% during the 4th quarter. Clearbridge Investments LLC now owns 51,649 shares of the company’s stock valued at $761,000 after purchasing an additional 1,369 shares during the last quarter. ProShare Advisors LLC boosted its position in Bumble by 8.5% during the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after purchasing an additional 1,430 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Bumble by 73.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock valued at $77,000 after purchasing an additional 2,210 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Bumble by 24.2% in the fourth quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock valued at $227,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BMBL. HSBC reissued a “hold” rating on shares of Bumble in a report on Friday, August 9th. Hsbc Global Res cut shares of Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. The Goldman Sachs Group decreased their price objective on Bumble from $18.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Susquehanna downgraded Bumble from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $6.00 in a report on Friday, August 9th. Finally, Stifel Nicolaus cut Bumble from a “buy” rating to a “hold” rating and lowered their price target for the company from $13.00 to $6.50 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and an average target price of $9.62.

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.