Bank of America Corp DE Sells 1,282,226 Shares of Bumble Inc. (NASDAQ:BMBL)

Bank of America Corp DE lowered its holdings in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 86.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 204,028 shares of the company's stock after selling 1,282,226 shares during the period. Bank of America Corp DE owned 0.19% of Bumble worth $1,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in shares of Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock worth $51,953,000 after acquiring an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Bumble by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company's stock worth $32,279,000 after acquiring an additional 22,136 shares during the period. Northern Trust Corp boosted its holdings in shares of Bumble by 3.5% during the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company's stock worth $7,733,000 after acquiring an additional 32,353 shares during the period. First Trust Advisors LP boosted its holdings 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 acquiring an additional 626,528 shares during the period. Finally, RBF Capital LLC bought a new stake in shares of Bumble during the fourth quarter worth approximately $5,157,000. Institutional investors own 94.85% of the company's stock.

Bumble Price Performance

Shares of NASDAQ:BMBL traded down $0.04 during trading on Friday, hitting $5.31. 1,168,684 shares of the company were exchanged, compared to its average volume of 3,151,817. The business's 50 day moving average is $4.87 and its 200-day moving average is $6.32. The company has a market capitalization of $548.48 million, a P/E ratio of -1.09 and a beta of 1.90. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $11.38.

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 the consensus estimate of $0.16 by ($0.03). The company had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The firm's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. Equities analysts forecast that Bumble Inc. will post 4.19 earnings per share for the current year.

Analyst Ratings Changes

BMBL has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price target on shares of Bumble from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $5.00 price target on shares of Bumble in a research report on Tuesday, June 3rd. Wells Fargo & Company dropped their price target on shares of Bumble from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group lifted their price target on shares of Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $6.58.

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.