Federated Hermes Inc. Invests $3.23 Million in Bumble Inc. (NASDAQ:BMBL)

Federated Hermes Inc. acquired a new stake in Bumble Inc. (NASDAQ:BMBL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 744,496 shares of the company's stock, valued at approximately $3,231,000. Federated Hermes Inc. owned about 0.71% of Bumble at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMBL. Ameriprise Financial Inc. raised its position in Bumble by 25.5% during 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 in the last quarter. Dimensional Fund Advisors LP raised its position 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 during the period. RPD Fund Management LLC acquired a new stake in shares of Bumble in the fourth quarter valued at about $30,940,000. Northern Trust Corp increased its stake 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 purchasing an additional 32,353 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of 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 purchasing an additional 626,528 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BMBL shares. Morgan Stanley cut their price objective on Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Citigroup lifted their target price on shares of Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Bank of America boosted their target price on Bumble from $5.25 to $5.50 and gave the stock an "underperform" rating in a report on Wednesday, July 2nd. Wells Fargo & Company restated a "positive" rating on shares of Bumble in a report on Friday, June 27th. Finally, The Goldman Sachs Group lifted their price target on Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.60.

Bumble Trading Up 1.3%

Bumble stock traded up $0.10 during trading on Wednesday, hitting $7.65. The company had a trading volume of 6,056,450 shares, compared to its average volume of 3,232,530. The stock has a market cap of $789.65 million, a price-to-earnings ratio of -1.56, a price-to-earnings-growth ratio of 0.26 and a beta of 1.96. The company has a current ratio of 2.83, a quick ratio of 2.83 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 $9.22. The company's 50 day simple moving average is $6.41 and its 200-day simple moving average is $5.87.

Bumble (NASDAQ:BMBL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.36 by $0.28. Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. As a group, analysts expect 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.