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. Stock investors purchased 50,261 put options on the company. This represents an increase of approximately 403% compared to the typical volume of 9,988 put options.

Insider Activity at Bumble

In other Bumble 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 transaction 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 document filed with the SEC, which can be accessed through the SEC website. 7.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC raised its stake in shares of Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,092 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Bumble by 73.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after purchasing an additional 2,210 shares during the period. Innealta Capital LLC bought a new stake in shares of Bumble during the 2nd quarter worth $64,000. Neo Ivy Capital Management bought a new stake in shares of Bumble during the 4th quarter worth $162,000. Finally, nVerses Capital LLC raised its stake in shares of Bumble by 128.3% during the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after purchasing an additional 6,800 shares during the period. 94.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BMBL. The Goldman Sachs Group raised their price target on shares of Bumble from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Evercore ISI raised their price objective 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. Wolfe Research began coverage on shares of Bumble in a research report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Bank of America reduced their price objective on shares of Bumble from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.72.

Bumble Stock Down 4.3 %

NASDAQ BMBL traded down $0.37 during mid-day trading on Monday, hitting $8.15. The company’s stock had a trading volume of 1,767,535 shares, compared to its average volume of 2,853,621. The company’s 50 day simple moving average is $10.09 and its 200 day simple moving average is $11.18. Bumble has a twelve month low of $7.73 and a twelve month high of $18.10. 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 market capitalization of $1.03 billion, a price-to-earnings ratio of 46.88 and a beta of 1.70.

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

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.