Bumble (NASDAQ:BMBL) Sets New 52-Week Low at $9.83

Bumble Inc. (NASDAQ:BMBL) shares hit a new 52-week low on Wednesday . The stock traded as low as $9.83 and last traded at $10.13, with a volume of 554209 shares. The stock had previously closed at $10.30.

Wall Street Analysts Forecast Growth

BMBL has been the subject of several recent research reports. KeyCorp decreased their price target on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler reissued a “neutral” rating and set a $13.00 target price (down from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Morgan Stanley assumed coverage on Bumble in a research report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price target on the stock. Susquehanna cut their target price on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.05.

Bumble Trading Up 11.5 %

The firm has a market cap of $1.48 billion, a PE ratio of -381.67, a P/E/G ratio of 0.28 and a beta of 1.67. The company’s fifty day moving average price is $10.71 and its two-hundred day moving average price is $12.85. 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 earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The company had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Bumble Inc. will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Bumble

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Bumble by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock valued at $150,478,000 after buying an additional 495,671 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Bumble by 4.4% in the third quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after acquiring an additional 347,238 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Bumble by 39.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after acquiring an additional 1,013,374 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after purchasing an additional 397,741 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Bumble by 15.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock valued at $28,446,000 after purchasing an additional 258,288 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.