KeyCorp Cuts Bumble (NASDAQ:BMBL) Price Target to $16.00

Bumble (NASDAQ:BMBL) had its price target decreased by KeyCorp from $18.00 to $16.00 in a report published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

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

Bumble Trading Down 0.3 %

Shares of BMBL stock opened at $10.27 on Monday. Bumble has a 1 year low of $9.83 and a 1 year high of $21.06. The firm has a market capitalization of $1.33 billion, a PE ratio of -342.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. The stock has a fifty day moving average of $10.72 and a two-hundred day moving average of $12.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01.

Bumble (NASDAQ:BMBL) last released its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share 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 firm had revenue of $273.64 million during the quarter, compared to analyst estimates of $275.38 million. As a group, research analysts expect that Bumble will post 0.66 EPS for the current year.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 7.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bumble

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