KLP Kapitalforvaltning AS Raises Position in Bumble Inc. (NASDAQ:BMBL)

Key Points

• KLP Kapitalforvaltning AS increased its ownership in Bumble Inc. by 183%, acquiring an additional 32,200 shares, bringing its total holdings to 49,800 shares valued at $216,000.
• Bumble Inc. reported a 7.7% decline in revenue year-over-year, posting $247.1 million for the quarter, and earnings per share that missed expectations by $0.03.
• The stock's average price target is $6.60, with a rating of "Hold" from analysts, reflecting a range of price targets and ratings from various brokerages.

KLP Kapitalforvaltning AS lifted its stake in Bumble Inc. (NASDAQ:BMBL - Free Report) by 183.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,800 shares of the company's stock after buying an additional 32,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Bumble were worth $216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. RPD Fund Management LLC bought a new position in Bumble in the fourth quarter worth about $30,940,000. Ameriprise Financial Inc. raised its stake in Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock worth $51,953,000 after buying an additional 1,298,630 shares in the last quarter. RBF Capital LLC bought a new position in Bumble in the fourth quarter worth about $5,157,000. First Trust Advisors LP raised its stake in Bumble by 429.5% in the fourth 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 in the last quarter. Finally, Barclays PLC raised its stake in Bumble by 202.9% in the fourth quarter. Barclays PLC now owns 553,186 shares of the company's stock worth $4,503,000 after buying an additional 370,568 shares in the last quarter. Institutional investors own 94.85% of the company's stock.

Analysts Set New Price Targets

BMBL has been the subject of a number of research reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $7.00 price target (up from $5.00) on shares of Bumble in a research note on Thursday, June 26th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Bumble in a research note on Friday, June 27th. UBS Group raised their target price on shares of Bumble from $6.00 to $7.50 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group raised their target price on shares of Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Citigroup raised their target price on shares of Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.60.

Bumble Stock Performance

BMBL stock traded down $0.19 on Friday, hitting $7.59. The company had a trading volume of 3,084,165 shares, compared to its average volume of 2,560,335. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $9.22. 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 stock's 50-day simple moving average is $6.34 and its 200 day simple moving average is $5.87. The stock has a market cap of $783.97 million, a price-to-earnings ratio of -1.55, a P/E/G ratio of 0.25 and a beta of 1.96.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its 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). Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. The company had revenue of $247.10 million during the quarter, compared to analysts' expectations of $246.68 million. During the same quarter in the prior year, the business posted $0.19 EPS. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts expect that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

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.