Gotham Asset Management LLC cut its stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 24.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 347,521 shares of the company's stock after selling 111,651 shares during the quarter. Gotham Asset Management LLC owned 0.32% of Bumble worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Empowered Funds LLC bought a new position in Bumble in the 4th quarter worth $187,000. Principal Financial Group Inc. raised its holdings in Bumble by 11.2% in the 4th quarter. Principal Financial Group Inc. now owns 158,790 shares of the company's stock worth $1,293,000 after purchasing an additional 15,958 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Bumble by 125.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company's stock worth $717,000 after purchasing an additional 49,050 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock worth $841,000 after purchasing an additional 2,760 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Bumble in the 4th quarter worth $189,000. 94.85% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on BMBL. The Goldman Sachs Group upped their price objective on shares of Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley reduced their target price on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Piper Sandler reduced their target price on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Bumble from $6.00 to $4.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group upped their target price on shares of Bumble from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Bumble currently has a consensus rating of "Hold" and a consensus target price of $6.71.
Check Out Our Latest Stock Report on BMBL
Bumble Stock Performance
Shares of NASDAQ:BMBL traded down $0.07 during trading on Monday, hitting $5.70. The company's stock had a trading volume of 2,303,656 shares, compared to its average volume of 3,126,895. The company has a 50-day moving average of $4.56 and a 200-day moving average of $6.55. Bumble Inc. has a 12 month low of $3.55 and a 12 month high of $12.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $601.61 million, a price-to-earnings ratio of -1.17 and a beta of 1.76.
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 firm had revenue of $247.10 million during the quarter, compared to analysts' expectations of $246.68 million. Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The company's revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. On average, sell-side analysts expect that Bumble Inc. will post 4.19 earnings per share for the current year.
Bumble Company Profile
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Free Report)
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.
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