Bumble (NASDAQ:BMBL) Trading 5.7% Higher

Bumble Inc. (NASDAQ:BMBL) traded up 5.7% during mid-day trading on Monday . The company traded as high as $6.36 and last traded at $6.34. 1,351,994 shares traded hands during trading, a decline of 58% from the average session volume of 3,220,042 shares. The stock had previously closed at $6.00.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BMBL shares. Citigroup lowered shares of Bumble from a “buy” rating to a “neutral” rating and reduced their price target for the company from $12.00 to $6.00 in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their price target on Bumble from $18.00 to $9.00 and set a “buy” rating for the company in a report on Friday, August 9th. TD Cowen downgraded Bumble from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $7.50 in a research report on Friday. Wells Fargo & Company decreased their target price on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered shares of Bumble from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $7.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.62.

Bumble Stock Performance

The firm has a market capitalization of $806.41 million, a price-to-earnings ratio of 37.29 and a beta of 1.70. The firm has a 50 day moving average price of $9.08 and a 200-day moving average price of $10.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. Bumble’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, sell-side analysts expect that Bumble Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity at Bumble

In other news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction on Friday, June 7th. The shares were sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now directly owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMBL. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Bumble during the 2nd quarter worth approximately $1,716,000. Mackenzie Financial Corp acquired a new stake in Bumble during the 2nd quarter worth $333,000. The Manufacturers Life Insurance Company lifted its position in Bumble by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after acquiring an additional 297,057 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Bumble in the second quarter valued at $823,000. Finally, AXA S.A. grew its holdings in shares of Bumble by 1,589.8% during the second quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after purchasing an additional 179,757 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.