First Trust Advisors LP Boosts Stock Position in Bumble Inc. (NASDAQ:BMBL)

First Trust Advisors LP lifted its position in Bumble Inc. (NASDAQ:BMBL - Free Report) by 429.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,394 shares of the company's stock after buying an additional 626,528 shares during the period. First Trust Advisors LP owned about 0.71% of Bumble worth $6,287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMBL. Barclays PLC grew its holdings in Bumble by 202.9% in the 4th quarter. Barclays PLC now owns 553,186 shares of the company's stock valued at $4,503,000 after buying an additional 370,568 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Bumble by 223.2% in the 4th quarter. Renaissance Technologies LLC now owns 391,100 shares of the company's stock valued at $3,184,000 after purchasing an additional 270,093 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Bumble during the 3rd quarter worth approximately $911,000. Integrated Quantitative Investments LLC bought a new position in shares of Bumble during the fourth quarter worth approximately $811,000. Finally, Westbourne Investment Advisors Inc. boosted its stake in shares of Bumble by 18.4% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company's stock valued at $3,960,000 after buying an additional 75,635 shares during the period. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Down 2.3 %

NASDAQ BMBL traded down $0.11 during trading hours on Tuesday, hitting $4.46. The company's stock had a trading volume of 243,290 shares, compared to its average volume of 3,107,620. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The company's 50-day simple moving average is $4.46 and its two-hundred day simple moving average is $6.66. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $12.49. The company has a market capitalization of $470.21 million, a PE ratio of -0.91 and a beta of 1.76.

Analyst Upgrades and Downgrades

BMBL has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on Bumble from $10.00 to $8.00 and set a "buy" rating for the company in a report on Monday, March 17th. Citigroup decreased their price target on Bumble from $6.80 to $4.80 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their target price 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 shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Susquehanna lowered their price target on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bumble currently has a consensus rating of "Hold" and a consensus target price of $6.82.

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.