Bumble Sees Unusually High Options Volume (NASDAQ:BMBL)

Bumble Inc. (NASDAQ:BMBL) was the recipient of unusually large options trading on Monday. Traders acquired 20,284 put options on the company. This represents an increase of approximately 461% compared to the average volume of 3,613 put options.

Institutional Investors Weigh In On Bumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new position in shares of Bumble during the third quarter worth approximately $911,000. Franklin Resources Inc. increased its holdings in Bumble by 11.3% during the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after purchasing an additional 6,325 shares during the period. Geode Capital Management LLC raised its position in Bumble by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after purchasing an additional 14,889 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Bumble in the 3rd quarter worth $90,000. Finally, Prentice Capital Management LP grew its position in shares of Bumble by 54.1% during the 3rd quarter. Prentice Capital Management LP now owns 242,844 shares of the company’s stock worth $1,549,000 after buying an additional 85,304 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.

Bumble Stock Up 1.7 %

NASDAQ BMBL opened at $7.88 on Tuesday. Bumble has a 52 week low of $4.80 and a 52 week high of $15.33. The firm has a market capitalization of $852.47 million, a price-to-earnings ratio of -1.61 and a beta of 1.71. 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 company has a fifty day moving average of $7.91 and a two-hundred day moving average of $7.97.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Finally, Susquehanna upped 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.38.

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.