Bumble Inc. (NASDAQ:BMBL) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in Bumble Inc. (NASDAQ:BMBL - Free Report) by 123.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,569 shares of the company's stock after buying an additional 61,747 shares during the period. Mackenzie Financial Corp owned about 0.11% of Bumble worth $484,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in shares of Bumble by 25.5% in 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. Dimensional Fund Advisors LP increased its holdings in Bumble by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company's stock valued at $32,279,000 after buying an additional 22,136 shares during the last quarter. RPD Fund Management LLC acquired a new stake in Bumble during the fourth quarter valued at approximately $30,940,000. Northern Trust Corp lifted its holdings in Bumble by 3.5% during the 4th quarter. Northern Trust Corp now owns 950,014 shares of the company's stock worth $7,733,000 after buying an additional 32,353 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Bumble by 429.5% during the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company's stock worth $6,287,000 after buying an additional 626,528 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Performance

BMBL opened at $6.43 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.75. The business's 50 day moving average is $6.45 and its 200-day moving average is $5.87. The stock has a market cap of $664.16 million, a PE ratio of -1.31, a price-to-earnings-growth ratio of 0.26 and a beta of 1.96. Bumble Inc. has a twelve month low of $3.55 and a twelve month high of $9.22.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.37 by $0.27. Bumble had a positive return on equity of 9.68% and a negative net margin of 82.41%. The firm had revenue of $248.23 million for the quarter, compared to analysts' expectations of $243.72 million. During the same period last year, the firm earned $0.22 EPS. The firm's revenue was down 7.6% compared to the same quarter last year. On average, analysts predict that Bumble Inc. will post 4.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BMBL. UBS Group boosted their price target on Bumble from $6.00 to $7.50 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Morgan Stanley lowered their target price on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $5.00 target price on shares of Bumble in a report on Tuesday, June 3rd. Citigroup lifted their price target on shares of Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a report on Friday, June 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Bumble from $6.00 to $4.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.63.

Bumble 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.

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