Handelsbanken Fonder AB Acquires 3,000 Shares of Bumble Inc. (NASDAQ:BMBL)

Handelsbanken Fonder AB raised its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 24.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,400 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Bumble were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMBL. EverSource Wealth Advisors LLC bought a new position in shares of Bumble during the third quarter valued at approximately $45,000. FNY Investment Advisers LLC acquired a new stake in Bumble in the fourth quarter valued at approximately $68,000. Campbell & CO Investment Adviser LLC purchased a new position in Bumble in the third quarter worth $161,000. Spire Wealth Management increased its position in shares of Bumble by 2,304.3% during the third quarter. Spire Wealth Management now owns 11,060 shares of the company’s stock worth $165,000 after purchasing an additional 10,600 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Bumble in the 3rd quarter worth $177,000. Institutional investors own 94.85% of the company’s stock.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.84% of the company’s stock.

Bumble Trading Down 0.2 %

Shares of Bumble stock opened at $10.14 on Friday. Bumble Inc. has a fifty-two week low of $9.93 and a fifty-two week high of $21.06. 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 company has a market cap of $1.31 billion, a P/E ratio of -336.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. The firm has a 50-day simple moving average of $10.89 and a two-hundred day simple moving average of $12.95.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMBL. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. KeyCorp decreased their price target on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Susquehanna dropped their price objective on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their target price on Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Morgan Stanley started coverage on Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.68.

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.