Bumble (NASDAQ:BMBL) Reaches New 12-Month Low at $9.83

Bumble Inc. (NASDAQ:BMBL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.83 and last traded at $10.13, with a volume of 554209 shares trading hands. The stock had previously closed at $10.30.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BMBL shares. Morgan Stanley assumed coverage on Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. BTIG Research cut their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Raymond James reiterated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Bumble currently has an average rating of “Moderate Buy” and an average price target of $16.52.

Bumble Stock Performance

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -343.33, a P/E/G ratio of 0.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a fifty day simple moving average of $10.78 and a two-hundred day simple moving average of $12.89.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The company had revenue of $273.64 million during the quarter, compared to analyst estimates of $275.38 million. Analysts forecast that Bumble Inc. will post 0.66 earnings per share for the current fiscal year.

Insider Transactions at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Bumble by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after purchasing an additional 297,286 shares during the last quarter. Wellington Management Group LLP boosted its position in Bumble by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after buying an additional 347,238 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Bumble by 16.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after buying an additional 97,948 shares during the period. Hudson Bay Capital Management LP increased its position in shares of Bumble by 800.0% in the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after acquiring an additional 400,000 shares during the period. Finally, Pearl River Capital LLC purchased a new position in shares of Bumble in the third quarter valued at about $753,000. 94.85% of the stock is currently owned by institutional investors.

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.