New York State Common Retirement Fund Grows Position in Bumble Inc. (NASDAQ:BMBL)

New York State Common Retirement Fund boosted its stake in Bumble Inc. (NASDAQ:BMBL) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,449 shares of the company’s stock after buying an additional 8,097 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Bumble worth $2,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Bumble during the third quarter valued at about $45,000. FNY Investment Advisers LLC acquired a new stake in Bumble in the 4th quarter valued at approximately $68,000. Campbell & CO Investment Adviser LLC acquired a new stake in Bumble in the 3rd quarter valued at approximately $161,000. Spire Wealth Management raised its position in Bumble by 2,304.3% in the third 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 period. Finally, Sherbrooke Park Advisers LLC acquired a new position in Bumble during the third quarter worth $177,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Down 1.7 %

Shares of NASDAQ BMBL opened at $10.30 on Wednesday. The business has a 50-day moving average of $10.78 and a two-hundred day moving average of $12.89. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -343.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. 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.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, analysts forecast that Bumble Inc. will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on BMBL. BTIG Research cut their price objective on Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley started coverage on shares of Bumble in a research report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Susquehanna reduced their target price 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. Finally, KeyCorp dropped their price target on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.52.

Insider Buying and Selling

In other Bumble 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 stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.84% of the stock is owned by company insiders.

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.