Ensign Peak Advisors Inc Grows Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Ensign Peak Advisors Inc grew its holdings in Bumble Inc. (NASDAQ:BMBL - Free Report) by 105.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,049 shares of the company's stock after purchasing an additional 60,700 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.11% of Bumble worth $961,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock worth $51,953,000 after purchasing an additional 1,298,630 shares during the last quarter. RBF Capital LLC purchased a new position in Bumble in the fourth quarter worth $5,157,000. First Trust Advisors LP increased its position in shares of Bumble by 429.5% during the fourth quarter. First Trust Advisors LP now owns 772,394 shares of the company's stock worth $6,287,000 after purchasing an additional 626,528 shares in the last quarter. Barclays PLC boosted its holdings in Bumble by 202.9% in the fourth quarter. Barclays PLC now owns 553,186 shares of the company's stock worth $4,503,000 after acquiring an additional 370,568 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Bumble by 223.2% in the 4th quarter. Renaissance Technologies LLC now owns 391,100 shares of the company's stock worth $3,184,000 after purchasing an additional 270,093 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI cut 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 note on Wednesday, February 19th. Citigroup lowered their price target on Bumble from $6.80 to $4.80 and set a "neutral" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group increased their price objective on Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley decreased their target price on Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler decreased their price objective on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.71.

Bumble Price Performance

Shares of BMBL stock traded down $0.05 during trading hours on Tuesday, reaching $5.65. The company had a trading volume of 2,292,763 shares, compared to its average volume of 3,123,572. 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 stock has a fifty day moving average of $4.58 and a 200-day moving average of $6.54. The company has a market capitalization of $583.59 million, a price-to-earnings ratio of -1.16 and a beta of 1.76. 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (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 firm had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. During the same quarter in the prior year, the business earned $0.19 EPS. The firm's quarterly revenue was down 7.7% on a year-over-year basis. On average, equities analysts anticipate that Bumble Inc. will post 4.19 earnings per share for the current year.

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.