Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in Bumble Inc. (NASDAQ:BMBL)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Bumble Inc. (NASDAQ:BMBL) by 53.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,556 shares of the company’s stock after selling 27,724 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bumble were worth $362,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new position in Bumble during the third quarter valued at $45,000. FNY Investment Advisers LLC bought a new position in shares of Bumble during the fourth quarter valued at $68,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Bumble in the 3rd quarter worth about $161,000. Spire Wealth Management grew its position in Bumble by 2,304.3% during the 3rd quarter. Spire Wealth Management now owns 11,060 shares of the company’s stock valued at $165,000 after purchasing an additional 10,600 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in Bumble during the 3rd quarter valued at about $177,000. 94.85% of the stock is currently owned by institutional investors.

Bumble Trading Down 0.2 %

Shares of BMBL stock opened at $10.14 on Friday. The firm has a fifty day moving average price of $10.83 and a 200-day moving average price of $12.92. Bumble Inc. has a 1 year low of $9.93 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -338.00, a PEG ratio of 0.28 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last released its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $275.38 million. As a group, equities analysts predict that Bumble Inc. will post 0.66 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated 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 directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on BMBL. 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 price target on the stock. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. BTIG Research reduced their price objective on Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Susquehanna decreased their target price on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.68.

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.