Short Interest in Bumble Inc. (NASDAQ:BMBL) Rises By 8.8%

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 10,490,000 shares, a growth of 8.8% from the January 15th total of 9,640,000 shares. Based on an average trading volume of 2,150,000 shares, the short-interest ratio is presently 4.9 days. Currently, 14.3% of the company’s shares are short sold.

Bumble Trading Up 0.7 %

Shares of NASDAQ:BMBL opened at $8.46 on Tuesday. Bumble has a 12-month low of $4.80 and a 12-month high of $14.08. The business’s fifty day simple moving average is $8.04 and its 200-day simple moving average is $7.44. The company has a market capitalization of $915.22 million, a PE ratio of -1.73 and a beta of 1.70. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BMBL. Principal Financial Group Inc. acquired a new stake in shares of Bumble in the 3rd quarter worth $911,000. Victory Capital Management Inc. boosted its position in shares of Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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. Franklin Resources Inc. boosted its position in shares of Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after purchasing an additional 6,325 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Bumble by 437.5% in the 3rd quarter. Creative Planning now owns 54,055 shares of the company’s stock worth $345,000 after purchasing an additional 43,998 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMBL. Stifel Nicolaus raised their price target on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley raised their price target on Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group raised their price target on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.50.

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.