Patriot Financial Group Insurance Agency LLC Buys Shares of 91,251 Bumble Inc. (NASDAQ:BMBL)

Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 91,251 shares of the company's stock, valued at approximately $396,000. Patriot Financial Group Insurance Agency LLC owned approximately 0.09% of Bumble as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMBL. Tower Research Capital LLC TRC raised its position in shares of Bumble by 20.3% in the 4th 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 in the last quarter. Canada Pension Plan Investment Board increased its holdings in Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock worth $90,000 after purchasing an additional 4,000 shares in the last quarter. Cerity Partners LLC bought a new stake in Bumble during the 4th quarter worth approximately $95,000. Corient Private Wealth LLC bought a new position in shares of Bumble in the fourth quarter valued at approximately $97,000. Finally, Wexford Capital LP bought a new position in shares of Bumble in the fourth quarter valued at approximately $98,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Up 0.6%

Shares of BMBL stock traded up $0.03 during trading hours on Friday, hitting $4.95. 2,425,932 shares of the company's stock traded hands, compared to its average volume of 3,132,450. The stock's fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $6.25. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $10.80. The stock has a market cap of $511.29 million, a price-to-earnings ratio of -1.01 and a beta of 1.90. 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 released 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). The business 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%. Bumble's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, analysts expect that Bumble Inc. will post 4.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BMBL shares. Stifel Nicolaus dropped their price objective on Bumble from $6.00 to $4.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada lowered their price objective on Bumble from $7.00 to $5.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price target 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. Piper Sandler reduced their price objective on Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, 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 note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.58.

Bumble Company 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.