Spire Wealth Management Has $705,000 Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Spire Wealth Management lifted its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 362.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,176 shares of the company’s stock after buying an additional 40,116 shares during the quarter. Spire Wealth Management’s holdings in Bumble were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BMBL. Levin Capital Strategies L.P. grew its position in shares of Bumble by 75.0% during the 4th quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $516,000 after purchasing an additional 15,000 shares in the last quarter. Headlands Technologies LLC raised its holdings in Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,092 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Bumble by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 151,449 shares of the company’s stock valued at $2,232,000 after acquiring an additional 8,097 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Bumble by 24.2% during the 4th quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock worth $227,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Bumble by 16.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock worth $10,076,000 after purchasing an additional 97,948 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.84% of the company’s stock.

Bumble Stock Down 0.3 %

Shares of NASDAQ:BMBL opened at $10.27 on Thursday. The firm has a market cap of $1.33 billion, a P/E ratio of -342.33, a P/E/G ratio of 0.28 and a beta of 1.67. Bumble Inc. has a 12-month low of $9.83 and a 12-month high of $21.06. The business has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $12.86. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data 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). The company had revenue of $273.64 million for the quarter, compared to the consensus estimate of $275.38 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. Analysts predict that Bumble Inc. will post 0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

BMBL has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 target price on shares of Bumble in a report on Wednesday, February 28th. Susquehanna reduced their price objective on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. BTIG Research dropped their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Finally, KeyCorp cut their target price on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.52.

Bumble 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.