Wellington Management Co. LLP recently announced the acquisition of new stake in Bumble Inc. (NASDAQ:BMBL). The institutional investor has increased its shareholding in the Technology company by 14.08% to 9.2 million shares with purchase of 1.13 million shares. This fresh investment now brings its stake to 7.07% valued currently at $167.47 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.14 million to 7.82 million shares. And BlackRock Fund Advisors has lifted its position by 28.48% or 1.56 million shares – to 7.05 million shares.
With over 2.05 million Bumble Inc. (BMBL) shares trading Friday and a closing price of $16.14 on the day, the dollar volume was approximately $33.12 million. The shares have shown a negative half year performance of -33.25% and its price on 05/19/23 lost nearly -3.64%. Currently, there are 131.92M common shares owned by the public and among those 128.74M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for BMBL have a consensus price objective of $24.54. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $19.00. The average price target is 34.15% above its recent price level and an upside to the estimated low will see the stock gain 15.05% over that period. But an upside of 53.89% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
Insiders at the company have transacted a total of 57 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 26,519,567 shares. Insider sales of the common stock occurred on 38 occasions, with total insider shares sold totaling 58,763,547 shares.
The top 3 mutual fund holders in Bumble Inc. are Vanguard Explorer Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Vanguard Explorer Fund owns 3.51 million shares of the company’s stock, all valued at over $63.83 million. The company bought an additional 0.63 million shares recently to bring their total holdings to about 2.69% of the shares outstanding. Vanguard Total Stock Market ETF bought 0.44 million shares to see its total holdings expand to 3.01 million shares valued at over $54.78 million and representing 2.31% of the shares outstanding. Vanguard Small Cap Index Fund bought 0.35 million shares to bring its total holdings to over 2.56 million shares at a value of $46.53 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.96% of the shares outstanding.
Shares of Bumble Inc. (NASDAQ: BMBL) opened at $16.89, up $0.14 from a prior closing price of $16.75. However, the script later moved the day high at 16.89, down -3.64%. The company’s stock has a 5-day price change of 0.94% and -29.02% over the past three months. BMBL shares are trading -23.33% year to date (YTD), with the 12-month market performance down to -39.09% lower. It has a 12-month low price of $15.88 and touched a high of $39.33 over the same period. BMBL has an average intraday trading volume of 2.76 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.09%, -11.51%, and -29.41% respectively.
Institutional ownership of Bumble Inc. (NASDAQ: BMBL) shares accounts for 99.37% of the company’s 131.92M shares outstanding. Mutual fund holders own 31.95%, while other institutional holders and individual stakeholders account for 32.79% and 26.00% respectively.
It has a market capitalization of $2.30B. The earnings-per-share (ttm) stands at -$0.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.97% over the week and 5.22% over the month.
Analysts forecast that Bumble Inc. (BMBL) will achieve an EPS of $0.03 for the current quarter, $0.08 for the next quarter and $0.45 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was -$0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -142.40%, and 107.83% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Bumble Inc. (BMBL) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 8 of the 22 advise that investors “hold,” and 0 rated it as a “Sell.”
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