Bank of New York Mellon Corp Lowers Position in Bumble Inc. (NASDAQ:BMBL)

Key Points

• Bank of New York Mellon Corp reduced its position in Bumble Inc. by 12.0%, now holding approximately 0.23% of the company's shares worth $1,064,000.
• Bumble's stock has seen mixed ratings from analysts, with an average price target of $6.60 and 14 firms rating it as a hold.
• In its latest earnings release, Bumble reported a net loss and a 7.7% decline in revenue compared to the previous year.

Bank of New York Mellon Corp decreased its position in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,204 shares of the company's stock after selling 33,307 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.23% of Bumble worth $1,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP bought a new stake in Bumble during the fourth quarter valued at about $476,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bumble by 26.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company's stock worth $1,887,000 after buying an additional 48,207 shares during the period. BNP Paribas Financial Markets acquired a new position in Bumble in the fourth quarter valued at approximately $2,042,000. Envestnet Asset Management Inc. lifted its holdings in Bumble by 125.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company's stock valued at $717,000 after acquiring an additional 49,050 shares during the period. Finally, Man Group plc acquired a new position in Bumble in the fourth quarter valued at approximately $334,000. Institutional investors own 94.85% of the company's stock.

Bumble Price Performance

Shares of BMBL traded down $0.19 during trading hours on Friday, hitting $7.59. 3,084,165 shares of the stock were exchanged, compared to its average volume of 2,560,335. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $9.22. The company has a market cap of $783.97 million, a price-to-earnings ratio of -1.55, a price-to-earnings-growth ratio of 0.26 and a beta of 1.96. The stock's 50-day moving average price is $6.34 and its two-hundred day moving average price is $5.88.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $247.10 million for the quarter, compared to analysts' expectations of $246.68 million. Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Research analysts expect that Bumble Inc. will post 4.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BMBL shares. Stifel Nicolaus decreased their price target on Bumble from $6.00 to $4.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $5.00 price target on shares of Bumble in a report on Tuesday, June 3rd. Morgan Stanley decreased their price target on Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group boosted their price target on Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Bumble currently has an average rating of "Hold" and a consensus target price of $6.60.

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.