Bumble (NASDAQ:BMBL) Shares Up 6.4% – Here’s What Happened

Bumble Inc. (NASDAQ:BMBL)’s share price shot up 6.4% during mid-day trading on Monday . The company traded as high as $7.92 and last traded at $7.98. 325,096 shares traded hands during trading, a decline of 84% from the average session volume of 2,052,393 shares. The stock had previously closed at $7.50.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMBL shares. Stifel Nicolaus lifted their price target on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup lifted 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. Morgan Stanley boosted their target price on Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Susquehanna increased their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Bumble presently has an average rating of “Hold” and a consensus price target of $8.50.

Bumble Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a 50 day simple moving average of $8.08 and a 200-day simple moving average of $7.52.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently added to or reduced their stakes in BMBL. Principal Financial Group Inc. acquired a new stake in shares of Bumble during the 3rd quarter worth about $911,000. Victory Capital Management Inc. boosted its holdings in shares of Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after acquiring an additional 206,215 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Bumble during the second quarter worth approximately $1,716,000. AXA S.A. lifted its holdings in Bumble by 1,589.8% during the 2nd quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after purchasing an additional 179,757 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after purchasing an additional 2,760 shares during the period. 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.