Bumble (NASDAQ:BMBL) Stock Price Down 5.9% - Here's Why

Bumble Inc. (NASDAQ:BMBL - Get Free Report) fell 5.9% during mid-day trading on Friday . The company traded as low as $5.58 and last traded at $5.64. 1,121,585 shares traded hands during trading, a decline of 64% from the average session volume of 3,124,178 shares. The stock had previously closed at $5.99.

Analyst Ratings Changes

A number of research firms recently issued reports on BMBL. UBS Group raised their price objective on shares of Bumble from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Evercore ISI lowered their price target on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered 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 report on Wednesday, April 9th. Susquehanna lowered their price target on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.71.

Bumble Trading Down 6.3%

The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market cap of $579.46 million, a PE ratio of -1.15 and a beta of 1.76. The stock's 50 day simple moving average is $4.77 and its 200 day simple moving average is $6.40.

Bumble (NASDAQ:BMBL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The company had revenue of $247.10 million during the quarter, compared to analysts' expectations of $246.68 million. During the same period in the prior year, the firm earned $0.19 EPS. Bumble's quarterly revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bumble

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC bought a new stake in shares of Bumble in the 4th quarter worth approximately $187,000. Principal Financial Group Inc. lifted its holdings in shares of Bumble by 11.2% in the 4th quarter. Principal Financial Group Inc. now owns 158,790 shares of the company's stock worth $1,293,000 after acquiring an additional 15,958 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Bumble in the 4th quarter worth approximately $2,042,000. Envestnet Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 49,050 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of Bumble in the 4th quarter worth approximately $334,000. 94.85% of the stock is currently owned by institutional investors.

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.