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

Bumble Inc. (NASDAQ:BMBL) was the target of unusually large options trading activity on Monday. Investors purchased 20,284 put options on the company. This represents an increase of approximately 461% compared to the typical volume of 3,613 put options.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. The Goldman Sachs Group increased their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler reissued a “neutral” rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Finally, 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 note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.38.

Bumble Price Performance

Shares of Bumble stock traded up $0.13 during trading on Monday, reaching $7.88. The company’s stock had a trading volume of 512,411 shares, compared to its average volume of 3,010,929. The business has a 50 day moving average price of $7.91 and a 200-day moving average price of $7.97. The company has a market capitalization of $852.47 million, a P/E 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. Bumble has a 12-month low of $4.80 and a 12-month high of $15.33.

Institutional Trading of Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in BMBL. Ensign Peak Advisors Inc grew its position in Bumble by 9.1% during the second quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock worth $603,000 after buying an additional 4,800 shares during the period. nVerses Capital LLC increased its stake in Bumble by 47.9% in the 3rd quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock valued at $114,000 after purchasing an additional 5,800 shares in the last quarter. Innealta Capital LLC acquired a new position in Bumble during the second quarter worth $64,000. Franklin Resources Inc. raised its stake in shares of 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 buying an additional 6,325 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Bumble by 20.6% in the second quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock valued at $460,000 after purchasing an additional 7,475 shares in the last quarter. Institutional investors and hedge funds 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.