Saba Capital Management L.P. Sells 535,174 Shares of Bumble Inc. (NASDAQ:BMBL)

Saba Capital Management L.P. lowered its stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,385,736 shares of the company's stock after selling 535,174 shares during the quarter. Saba Capital Management L.P. owned about 1.28% of Bumble worth $11,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after acquiring an additional 1,249 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Bumble by 56.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock valued at $90,000 after purchasing an additional 4,000 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Bumble in the 4th quarter valued at $95,000. Corient Private Wealth LLC acquired a new position in shares of Bumble during the 4th quarter worth $97,000. Finally, Olympiad Research LP bought a new stake in shares of Bumble during the 4th quarter worth $129,000. Institutional investors own 94.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler lowered their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley lowered their price target on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company cut their target price on shares of Bumble from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Susquehanna cut their target price on Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, UBS Group upped their price objective on shares of Bumble from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Bumble has an average rating of "Hold" and an average price target of $6.71.

Bumble Stock Down 0.9%

Shares of NASDAQ BMBL traded down $0.05 during mid-day trading on Tuesday, reaching $5.65. 2,292,763 shares of the company's stock traded hands, compared to its average volume of 3,124,622. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The business has a 50-day simple moving average of $4.58 and a 200 day simple moving average of $6.54. The stock has a market cap of $583.59 million, a P/E ratio of -1.16 and a beta of 1.76. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $12.30.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $247.10 million during 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%. Bumble's revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. On average, analysts expect that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Bumble Company 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.