Bumble Inc. (NASDAQ:BMBL) Sees Large Decrease in Short Interest

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 15,440,000 shares, a drop of 10.7% from the September 15th total of 17,290,000 shares. Approximately 16.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,810,000 shares, the days-to-cover ratio is presently 4.1 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMBL. JPMorgan Chase & Co. cut Bumble from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $7.00 in a report on Thursday, August 8th. Stifel Nicolaus lowered Bumble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $13.00 to $6.50 in a report on Thursday, August 8th. Citigroup lowered shares of Bumble from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $6.00 in a report on Thursday, August 8th. 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 target on the stock. Finally, The Goldman Sachs Group decreased their target price on shares of Bumble from $18.00 to $9.00 and set a “buy” rating on the stock 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC grew its stake in shares of Bumble by 8.5% in the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after acquiring an additional 1,430 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Bumble by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company’s stock worth $734,000 after purchasing an additional 3,683 shares during the period. Ensign Peak Advisors Inc raised its position in Bumble by 9.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock valued at $603,000 after purchasing an additional 4,800 shares in the last quarter. Moody National Bank Trust Division raised its position in Bumble by 7.8% in the 1st quarter. Moody National Bank Trust Division now owns 67,894 shares of the company’s stock valued at $771,000 after purchasing an additional 4,887 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Bumble in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Up 1.4 %

Shares of BMBL traded up $0.10 during trading on Wednesday, reaching $7.00. 2,885,234 shares of the company traded hands, compared to its average volume of 3,139,079. The stock has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $9.00. The stock has a market cap of $883.39 million, a PE ratio of 41.18 and a beta of 1.66. Bumble has a twelve month low of $4.80 and a twelve month high of $15.90. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last posted 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. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. During the same quarter last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts anticipate that Bumble will post 0.77 earnings per share for the current year.

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.