Ameriprise Financial Inc. Purchases 1,298,630 Shares of Bumble Inc. (NASDAQ:BMBL)

Ameriprise Financial Inc. boosted its holdings in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 25.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,382,478 shares of the company's stock after buying an additional 1,298,630 shares during the period. Ameriprise Financial Inc. owned approximately 5.90% of Bumble worth $51,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Bumble during the 4th quarter valued at about $187,000. Principal Financial Group Inc. lifted its position in Bumble by 11.2% during the fourth quarter. Principal Financial Group Inc. now owns 158,790 shares of the company's stock valued at $1,293,000 after purchasing an additional 15,958 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Bumble by 125.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company's stock worth $717,000 after buying an additional 49,050 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock valued at $841,000 after buying an additional 2,760 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Bumble during the 4th quarter worth $189,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMBL. Stifel Nicolaus lowered their price target on Bumble from $6.00 to $4.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI dropped their target price on Bumble from $8.00 to $7.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of Bumble from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada cut their price objective on shares of Bumble from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group lifted their target price on shares of Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bumble has an average rating of "Hold" and a consensus price target of $6.75.

Bumble Trading Up 2.3 %

NASDAQ:BMBL opened at $5.69 on Friday. The company has a 50-day moving average price of $4.46 and a 200-day moving average price of $6.60. The stock has a market cap of $600.56 million, a price-to-earnings ratio of -1.16 and a beta of 1.76. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 12 month low of $3.55 and a 12 month high of $12.49.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $247.10 million for the quarter, compared to the consensus estimate of $246.68 million. Bumble had a negative net margin of 54.19% and a positive return on equity of 3.31%. The business's revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. Equities analysts predict that Bumble Inc. will post 4.19 EPS for the current year.

Bumble 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.

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