Saturday, June 25, 2022

A company insider recently bought 35,200 shares of Bumble Inc. [BMBL]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bumble Inc. shares valued at $998,624 were purchased by Griffin Amy on Mar 17. At $28.37 per share, Griffin Amy acquired 35,200 shares. The insider’s holdings grew to 152,700 shares worth approximately $4.85 million following the completion of this transaction.

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Also, BX Buzz ML-1 GP LLC sold 20,700,000 shares, netting a total of over 1,084,266,000 in proceeds. Following the sale of shares at $52.38 each, the insider now holds 0 shares.

Before that, BTOA – NQ L.L.C. had sold 20,700,000 shares from its account. In a trade valued at $1,084,266,000, the 10% Owner traded Bumble Inc. shares for $52.38 each. Upon closing the transaction, the insider’s holdings decreased to 20,700,000 shares, worth approximately $0.0.

As published in their initiating research note from Deutsche Bank on March 11, 2022, Bumble Inc. [BMBL] has been a Hold and the price target has been revised to $28. This represents a -13.46% premium over Thursday’s closing price. Analysts at BMO Capital Markets upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in early March. As of January 13, 2022, Goldman has increased its “Neutral” rating to a “Buy” for BMBL. Earlier on January 13, 2022, Piper Sandler initiated its rating. Their recommendation was “a Neutral” for BMBL stock.

Analyzing BMBL’s Price Performance

On Thursday, Bumble Inc. [NASDAQ: BMBL] rose 7.84% to $31.77. The stock’s lowest price that day was $29.44, but it reached a high of $31.80 in the same session. During the last five days, there has been a surge of approximately 0.51%. Over the course of the year, Bumble Inc. shares have dropped approximately -6.17%. Shares of the company reached a 52-week high of $35.76 on 01/03/22 and a 52-week low of $15.41 on 03/08/22. A 50-day SMA is recorded $26.87, while a 200-day SMA reached $34.43. Nevertheless, trading volume fell to 2.13 million shares from 2.84 million shares the previous day.

Support And Resistance Levels for Bumble Inc. (BMBL)

According to the 24-hour chart, there is a support level at 30.21, which, if violated, would cause prices to drop to 28.64. In the upper region, resistance lies at 32.57. The next price resistance is at 33.36. RSI (Relative Strength Index) is 57.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 32.72%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Bumble Inc. subject to short interest?

Stocks of Bumble Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 0.98 million shares to 7.3 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 6.32 million shares. A jump of 13.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.21.

Which companies own the most shares of Bumble Inc. (BMBL)?

According to JPMorgan Investment Management, I filings, the company currently owns 9,713,426 shares, which is about 7.50% of the total BMBL shares outstanding. The investor’s shares have appreciated by 3,277,793 from its previous 13-F filing of 6435633.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $222,376,694. The Vanguard Group, Inc. acquire a 1.09% interest valued at $205.42 million while Blackstone Alternative Solutions sold a 0 stake. A total of 308,158 shares of Bumble Inc. were sold by Massachusetts Financial Services during the quarter, and 2,680,800 by Southpoint Capital Advisors LP. In its current portfolio, Citadel Advisors LLC holds 2,609,749 shares valued at $74.38 million.

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