Hsbc Holdings PLC lowered its stake in Bumble Inc. (NASDAQ:BMBL - Free Report) by 80.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,176 shares of the company's stock after selling 45,450 shares during the period. Hsbc Holdings PLC's holdings in Bumble were worth $92,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Bumble during the 4th quarter valued at $56,000. Tower Research Capital LLC TRC lifted its holdings in Bumble by 20.3% during 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 in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Bumble by 56.3% during the fourth 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 during the period. Corient Private Wealth LLC bought a new position in shares of Bumble during the 4th quarter valued at about $97,000. Finally, Cerity Partners LLC acquired a new position in shares of Bumble in the 4th quarter valued at approximately $95,000. Institutional investors own 94.85% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Bumble from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Susquehanna cut their price objective on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. lowered their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada reduced their price objective on Bumble from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.71.
Read Our Latest Analysis on Bumble
Bumble Stock Performance
BMBL stock traded down $0.04 during trading hours on Friday, reaching $5.77. The stock had a trading volume of 3,264,837 shares, compared to its average volume of 3,129,133. 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 stock has a 50-day simple moving average of $4.54 and a 200 day simple moving average of $6.57. The stock has a market capitalization of $609.00 million, a PE ratio of -1.18 and a beta of 1.76. Bumble Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $12.49.
Bumble (NASDAQ:BMBL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The business had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm's revenue was down 7.7% compared to the same quarter last year. Analysts predict that Bumble Inc. will post 4.19 EPS for the current fiscal 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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