Mackenzie Financial Corp Acquires New Position in Bumble Inc. (NASDAQ:BMBL)

Mackenzie Financial Corp purchased a new position in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,822 shares of the company's stock, valued at approximately $406,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock worth $60,000 after acquiring an additional 1,249 shares during the period. Canada Pension Plan Investment Board raised its position in Bumble by 56.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock worth $90,000 after acquiring an additional 4,000 shares during the period. Corient Private Wealth LLC bought a new stake in Bumble in the fourth quarter worth about $97,000. Wexford Capital LP bought a new stake in Bumble in the fourth quarter worth about $98,000. Finally, Cerity Partners LLC bought a new stake in Bumble during the 4th quarter worth approximately $95,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BMBL shares. The Goldman Sachs Group upped their target price on shares of Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Evercore ISI decreased their target price on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Susquehanna decreased their target price on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $5.00 price target on shares of Bumble in a research note on Tuesday. Finally, UBS Group boosted their price target on shares of Bumble from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $6.58.

Bumble Trading Down 0.7%

BMBL stock traded down $0.04 during trading on Friday, hitting $5.31. 1,168,684 shares of the company traded hands, compared to its average volume of 3,151,817. The firm has a market capitalization of $548.48 million, a PE 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 $11.38. The company has a 50-day moving average of $4.87 and a 200-day moving average of $6.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share 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 negative net margin of 54.19% and a positive return on equity of 3.31%. The company's quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. Analysts predict that Bumble Inc. will post 4.19 earnings per share 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.