Stock Traders Purchase High Volume of Bumble Put Options (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading activity on Monday. Stock traders bought 20,284 put options on the stock. This is an increase of 461% compared to the typical volume of 3,613 put options.

Bumble Stock Up 1.7 %

Shares of BMBL traded up $0.13 during mid-day trading on Monday, reaching $7.88. 512,411 shares of the stock traded hands, compared to its average volume of 3,010,929. The stock has a fifty day simple moving average of $7.91 and a 200 day simple moving average of $7.97. Bumble has a 12-month low of $4.80 and a 12-month high of $15.33. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm has a market cap of $852.47 million, a price-to-earnings ratio of -1.61 and a beta of 1.71.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMBL. Susquehanna raised their price target on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Piper Sandler reissued a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Citigroup upped their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Stifel Nicolaus increased their price target 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.38.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Bumble by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after buying an additional 14,889 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Bumble in the 2nd quarter worth about $24,121,000. The Manufacturers Life Insurance Company grew its stake in Bumble by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after purchasing an additional 297,057 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Bumble by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock valued at $7,434,000 after buying an additional 83,397 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. raised its stake in Bumble by 17.1% during the third quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company’s stock valued at $2,621,000 after buying an additional 59,970 shares in the last quarter. Hedge funds and other 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.