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

Bumble Inc. (NASDAQ:BMBL) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 36,440 put options on the stock. This is an increase of approximately 1,180% compared to the typical daily volume of 2,847 put options.

Analyst Ratings Changes

Several equities analysts recently weighed in on BMBL shares. The Goldman Sachs Group raised their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Piper Sandler reissued a “neutral” rating and issued a $8.00 price target (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Bumble has an average rating of “Hold” and a consensus price target of $8.50.

Bumble Trading Down 4.3 %

Shares of Bumble stock opened at $8.10 on Wednesday. The company’s fifty day simple moving average is $8.03 and its 200-day simple moving average is $7.44. The company has a market cap of $876.26 million, a price-to-earnings ratio of -1.66 and a beta of 1.70. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 1 year low of $4.80 and a 1 year high of $13.56.

Institutional Investors Weigh In On Bumble

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bumble by 26.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock worth $1,887,000 after buying an additional 48,207 shares in the last quarter. Wexford Capital LP acquired a new stake in Bumble during the fourth quarter worth $98,000. Two Sigma Investments LP acquired a new stake in Bumble during the fourth quarter worth $476,000. RPD Fund Management LLC acquired a new stake in Bumble during the fourth quarter worth $30,940,000. Finally, ProShare Advisors LLC boosted its stake in Bumble by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,057 shares of the company’s stock worth $220,000 after buying an additional 8,902 shares in the last quarter. Institutional investors and hedge funds 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.