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

Bumble Inc. (NASDAQ:BMBL) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 12,940,000 shares, a growth of 21.2% from the February 13th total of 10,680,000 shares. Approximately 18.1% of the company’s stock are short sold. Based on an average trading volume of 3,030,000 shares, the short-interest ratio is currently 4.3 days.

Institutional Trading of Bumble

Large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in Bumble during the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC boosted its position in shares of Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after purchasing an additional 1,249 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Bumble by 56.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after purchasing an additional 4,000 shares during the period. Corient Private Wealth LLC bought a new position in shares of Bumble in the fourth quarter worth approximately $97,000. Finally, Wexford Capital LP bought a new position in shares of Bumble in the fourth quarter worth approximately $98,000. 94.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMBL has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group decreased their target price on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday. Citigroup decreased their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Evercore ISI decreased their target price on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.25.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $4.69 on Thursday. The firm has a 50 day moving average of $6.76 and a 200 day moving average of $7.21. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $495.01 million, a price-to-earnings ratio of -0.96 and a beta of 1.77. Bumble has a 12-month low of $4.57 and a 12-month high of $12.49.

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.