Prentice Capital Management LP Lowers Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Prentice Capital Management LP reduced its stake in Bumble Inc. (NASDAQ:BMBL - Free Report) by 57.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,713 shares of the company's stock after selling 140,131 shares during the period. Bumble accounts for 1.4% of Prentice Capital Management LP's portfolio, making the stock its 11th largest position. Prentice Capital Management LP owned approximately 0.09% of Bumble worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Bumble in the fourth quarter worth about $56,000. Tower Research Capital LLC TRC increased its stake in shares of Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after purchasing an additional 1,249 shares in the last quarter. Canada Pension Plan Investment Board increased its stake 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 valued at $90,000 after purchasing an additional 4,000 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Bumble during the fourth quarter valued at approximately $97,000. Finally, Cerity Partners LLC bought a new position in shares of Bumble during the fourth quarter valued at approximately $95,000. 94.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMBL. Piper Sandler decreased their target price on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. UBS Group raised their target price on shares of Bumble from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Thursday. Morgan Stanley decreased their target price on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Evercore ISI decreased their target price on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup reduced their price target on shares of Bumble from $6.80 to $4.80 and set a "neutral" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bumble currently has a consensus rating of "Hold" and a consensus target price of $6.71.

Bumble Stock Performance

BMBL stock traded down $0.04 on Friday, hitting $5.77. The company had a trading volume of 3,264,837 shares, compared to its average volume of 3,130,201. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $12.49. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock's 50-day simple moving average is $4.56 and its 200 day simple moving average is $6.56. The stock has a market cap of $609.00 million, a price-to-earnings ratio of -1.18 and a beta of 1.76.

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). The company 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 for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. As a group, equities research analysts expect 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.