Joho Capital LLC Reduces Position in Bumble Inc. (NASDAQ:BMBL)

Joho Capital LLC cut its holdings in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 675,000 shares of the company's stock after selling 675,000 shares during the period. Bumble comprises about 1.0% of Joho Capital LLC's investment portfolio, making the stock its 6th biggest holding. Joho Capital LLC owned approximately 0.62% of Bumble worth $5,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in Bumble during the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC raised its holdings in shares of Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock worth $60,000 after purchasing an additional 1,249 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock worth $90,000 after purchasing an additional 4,000 shares during the period. Cerity Partners LLC acquired a new position in shares of Bumble in the 4th quarter valued at about $95,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Bumble in the 4th quarter valued at about $97,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on BMBL. Stifel Nicolaus decreased their target price on Bumble from $6.00 to $4.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on Bumble from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Piper Sandler dropped their price objective on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price target on Bumble from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.82.

Bumble Trading Down 1.2 %

NASDAQ BMBL traded down $0.06 on Monday, hitting $4.42. 480,162 shares of the stock were exchanged, compared to its average volume of 3,104,181. The company's 50-day moving average price is $4.58 and its two-hundred day moving average price is $6.77. The company has a market capitalization of $465.99 million, a price-to-earnings ratio of -0.90 and a beta of 1.77. Bumble Inc. has a 52-week low of $3.55 and a 52-week high of $12.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

About Bumble

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.