Bumble (NASDAQ:BMBL) Trading Up 9.8% – Should You Buy?

Bumble Inc. (NASDAQ:BMBL) shares rose 9.8% on Monday . The stock traded as high as $9.04 and last traded at $8.98. Approximately 552,182 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,074,187 shares. The stock had previously closed at $8.18.

Analyst Upgrades and Downgrades

BMBL has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Citigroup boosted their price objective on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Susquehanna raised their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their target price on Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered Bumble from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $7.00 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.38.

Bumble Stock Up 11.0 %

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $982.27 million, a PE ratio of -1.81 and a beta of 1.62. The firm has a fifty day moving average of $7.09 and a 200 day moving average of $8.44.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the period. Geode Capital Management LLC grew its position in Bumble by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after buying an additional 14,889 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Bumble in the 2nd quarter valued at $24,121,000. The Manufacturers Life Insurance Company increased its stake in Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after buying an additional 297,057 shares during the period. Finally, Boston Partners raised its position in Bumble by 2.0% during the 1st quarter. Boston Partners now owns 746,483 shares of the company’s stock worth $8,348,000 after buying an additional 14,309 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.