Millennium Management LLC Has $1.34 Million Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Millennium Management LLC lowered its holdings in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 83.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 164,650 shares of the company's stock after selling 847,299 shares during the period. Millennium Management LLC owned about 0.15% of Bumble worth $1,340,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. grew its position in Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock valued at $51,953,000 after acquiring an additional 1,298,630 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 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 in the last quarter. Northern Trust Corp raised its stake in 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 in the last quarter. First Trust Advisors LP raised its stake in 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 in the last quarter. Finally, RBF Capital LLC acquired a new position in Bumble during the fourth quarter worth about $5,157,000. 94.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMBL has been the subject of several research analyst reports. UBS Group boosted their target price on Bumble from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Citigroup lowered their target price on Bumble from $6.80 to $4.80 and set a "neutral" rating for the company in a research note on Friday, April 25th. Morgan Stanley reduced their price objective on Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on Bumble from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $5.00 price objective on shares of Bumble in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Bumble has a consensus rating of "Hold" and an average target price of $6.58.

Bumble Trading Up 1.1%

BMBL traded up $0.06 during midday trading on Thursday, hitting $5.35. 2,291,309 shares of the company were exchanged, compared to its average volume of 3,139,404. The firm has a market capitalization of $552.61 million, a P/E ratio of -1.09 and a beta of 1.90. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $11.91. The firm's 50 day moving average price is $4.83 and its 200-day moving average price is $6.37. 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 (NASDAQ:BMBL - Get Free Report) last announced its 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 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, equities analysts forecast that Bumble Inc. will post 4.19 EPS for the current fiscal 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.