Bumble Inc. [NASDAQ: BMBL] gained 1.11% or 0.22 points to close at $20.10 with a heavy trading volume of 2788958 shares. The company report on March 3, 2023 that Bumble Inc. Announces Pricing of Secondary Offering of Shares of Class A Common Stock.
Bumble Inc. (Nasdaq: BMBL) (“Bumble”) announced today the pricing of a previously announced secondary offering of 13,750,000 shares of Bumble’s Class A common stock by certain selling stockholders affiliated with Blackstone Inc. and its founder, Whitney Wolfe Herd (collectively, the “Selling Stockholders”), at a price to the public of $22.80 per share. Blackstone has also granted the underwriters a 30-day option to purchase up to an additional 2,062,500 shares of Bumble’s Class A common stock. The offering is expected to close on March 8, 2023, subject to customary closing conditions.
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Bumble is not selling any shares of Class A common stock in the offering and will not receive any of the proceeds from the sale. Bumble will bear the costs associated with the sale of such shares, other than the underwriting discounts.
It opened the trading session at $20.03, the shares rose to $20.33 and dropped to $19.66, the range by which the price of stock traded the whole day. The daily chart for BMBL points out that the company has recorded -5.28% loss over the past six months. However, it is still -14.07% lower than its most recent low trading price.
If we look at the average trading volume of 2.58M shares, BMBL reached to a volume of 2788958 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Bumble Inc. [BMBL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMBL shares is $27.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMBL stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Bumble Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 17, 2023. The new note on the price target was released on January 10, 2023, representing the official price target for Bumble Inc. stock. Previously, the target price had yet another raise to $29, while BofA Securities analysts kept a Buy rating on BMBL stock.
The Average True Range (ATR) for Bumble Inc. is set at 1.06, with the Price to Sales ratio for BMBL stock in the period of the last 12 months amounting to 4.59. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 1.95. Price to Free Cash Flow for BMBL in the course of the last twelve months was 35.55 with Quick ratio for the last quarter at 2.40.
Trading performance analysis for BMBL stock
Bumble Inc. [BMBL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.10. With this latest performance, BMBL shares dropped by -16.87% in over the last four-week period, additionally sinking by -5.28% over the last 6 months – not to mention a drop of -30.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMBL stock in for the last two-week period is set at 43.81, with the RSI for the last a single of trading hit 47.64, and the three-weeks RSI is set at 43.30 for Bumble Inc. [BMBL]. The present Moving Average for the last 50 days of trading for this stock 22.92, while it was recorded at 19.55 for the last single week of trading, and 25.45 for the last 200 days.
Bumble Inc. [BMBL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Bumble Inc. [BMBL] shares currently have an operating margin of +0.90 and a Gross Margin at +62.46. Bumble Inc.’s Net Margin is presently recorded at -8.83.
Return on Total Capital for BMBL is now 0.26, given the latest momentum, and Return on Invested Capital for the company is -3.53. Return on Equity for this stock declined to -4.92, with Return on Assets sitting at -2.13. When it comes to the capital structure of this company, Bumble Inc. [BMBL] has a Total Debt to Total Equity ratio set at 39.43. Additionally, BMBL Total Debt to Total Capital is recorded at 28.28, with Total Debt to Total Assets ending up at 17.38. Long-Term Debt to Equity for the company is recorded at 38.88, with the Long-Term Debt to Total Capital now at 27.89.
Reflecting on the efficiency of the workforce at the company, Bumble Inc. [BMBL] managed to generate an average of -$83,943 per employee. Receivables Turnover for the company is 11.31 with a Total Asset Turnover recorded at a value of 0.24.Bumble Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.
An analysis of insider ownership at Bumble Inc. [BMBL]
There are presently around $2,648 million, in the hands of institutional investors. The top three institutional holders of BMBL stocks are: BLACKSTONE INC. with ownership of 43,181,192, which is approximately 0% of the company’s market cap and around 1.10% of the total institutional ownership; JPMORGAN CHASE & CO, holding 11,093,508 shares of the stock with an approximate value of $220.54 million in BMBL stocks shares; and FMR LLC, currently with $208.01 million in BMBL stock with ownership of nearly -4.599% of the company’s market capitalization.
Positions in Bumble Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 110 institutional holders increased their position in Bumble Inc. [NASDAQ:BMBL] by around 13,750,929 shares. Additionally, 126 investors decreased positions by around 12,287,042 shares, while 25 investors held positions by with 107,179,411 shares. The mentioned changes placed institutional holdings at 133,217,382 shares, according to the latest SEC report filing. BMBL stock had 45 new institutional investments in for a total of 5,847,978 shares, while 48 institutional investors sold positions of 3,144,654 shares during the same period.