Bumble (NASDAQ:BMBL) Trading Down 5.8%

Shares of Bumble Inc. (NASDAQ:BMBL) traded down 5.8% during trading on Monday . The stock traded as low as $9.89 and last traded at $9.90. 773,151 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,834,196 shares. The stock had previously closed at $10.51.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley started coverage on shares of Bumble in a report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 target price for the company. The Goldman Sachs Group decreased their price objective on Bumble from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Bank of America upgraded Bumble from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, May 10th. Raymond James restated a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Finally, Evercore ISI lifted their target price on shares of Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.89.

Bumble Stock Up 0.6 %

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 56.71 and a beta of 1.70. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average is $10.94 and its two-hundred day moving average is $12.03.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $267.80 million during the quarter, compared to analysts’ expectations of $265.41 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share. Equities analysts anticipate that Bumble Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 7,492 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the sale, the director now owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bumble

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Bumble by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 166,569 shares of the company’s stock worth $2,485,000 after purchasing an additional 1,580 shares during the period. Hsbc Holdings PLC lifted its holdings in Bumble by 67.5% during the 3rd quarter. Hsbc Holdings PLC now owns 53,541 shares of the company’s stock worth $800,000 after buying an additional 21,582 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bumble in the 3rd quarter valued at approximately $237,000. Trexquant Investment LP acquired a new position in shares of Bumble in the third quarter worth $293,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of Bumble by 20.1% in the third quarter. Qube Research & Technologies Ltd now owns 468,019 shares of the company’s stock valued at $6,983,000 after acquiring an additional 78,482 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.