Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 15,440,000 shares, a decline of 10.7% from the September 15th total of 17,290,000 shares. Approximately 16.8% of the shares of the company 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.

Bumble Price Performance

NASDAQ:BMBL traded down $0.11 during trading hours on Thursday, reaching $6.89. The company had a trading volume of 776,468 shares, compared to its average volume of 3,127,328. The stock has a 50-day moving average of $6.42 and a two-hundred day moving average of $8.99. Bumble has a one year low of $4.80 and a one year high of $15.90. The firm has a market capitalization of $869.51 million, a PE ratio of 40.76 and a beta of 1.66. 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 announced its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. Analysts forecast that Bumble will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

BMBL has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Susquehanna lowered Bumble from a “positive” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $6.00 in a report on Friday, August 9th. Morgan Stanley lowered their price objective on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. KeyCorp cut Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Finally, Wolfe Research initiated coverage on Bumble in a research report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.50.

Institutional Trading of Bumble

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Bumble by 6.0% during the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after purchasing an additional 613,759 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Bumble during the first quarter valued at $937,000. Duality Advisers LP acquired a new position in shares of Bumble during the first quarter valued at $1,049,000. Goldman Sachs Group Inc. lifted its stake in shares of Bumble by 12.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after acquiring an additional 397,741 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of Bumble during the first quarter valued at $1,378,000. Institutional investors own 94.85% of the company’s stock.

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.