Bumble (NASDAQ:BMBL) Shares Up 4.2%

Shares of Bumble Inc. (NASDAQ:BMBL) shot up 4.2% during trading on Monday . The stock traded as high as $7.01 and last traded at $6.95. 881,716 shares changed hands during trading, a decline of 73% from the average session volume of 3,233,789 shares. The stock had previously closed at $6.67.

Analyst Ratings Changes

Several research firms recently commented on BMBL. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and dropped their price target for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. Stifel Nicolaus lowered shares of Bumble from a “buy” rating to a “hold” rating and dropped their price target for the company from $13.00 to $6.50 in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, KeyCorp decreased their price objective on shares of Bumble from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Bumble presently has an average rating of “Hold” and a consensus price target of $9.62.

Bumble Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. The business’s 50 day simple moving average is $8.50 and its 200 day simple moving average is $10.31. The company has a market capitalization of $825.34 million, a PE ratio of 39.12 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. During the same period in the previous year, the firm earned $0.05 earnings per share. Bumble’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Bumble Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Bumble

In other Bumble news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now directly owns 29,030 shares in the company, valued at $331,232.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently made changes to their positions in BMBL. Point72 Asset Management L.P. acquired a new stake in shares of Bumble during the second quarter valued at about $24,121,000. Norges Bank acquired a new position in shares of Bumble in the fourth quarter valued at approximately $16,112,000. Dimensional Fund Advisors LP grew its holdings in shares of Bumble by 39.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after purchasing an additional 1,013,374 shares in the last quarter. Boston Partners acquired a new position in shares of Bumble in the fourth quarter valued at approximately $10,678,000. Finally, Vanguard Group Inc. grew its holdings in shares of Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after purchasing an additional 613,759 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.