Voya Investment Management LLC Decreases Stake in Bumble Inc. (NASDAQ:BMBL)

Voya Investment Management LLC lessened its stake in Bumble Inc. (NASDAQ:BMBL) by 48.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,601 shares of the company’s stock after selling 27,658 shares during the quarter. Voya Investment Management LLC’s holdings in Bumble were worth $241,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Bumble in the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC boosted its stake in shares of Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Bumble by 56.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after buying an additional 4,000 shares during the period. Cerity Partners LLC purchased a new position in shares of Bumble in the 4th quarter valued at about $95,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Bumble in the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BMBL shares. Piper Sandler decreased their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Citigroup decreased their target price on Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley decreased their target price on Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Finally, Stifel Nicolaus decreased their target price on Bumble from $6.00 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.75.

Bumble Trading Up 2.5%

BMBL opened at $5.82 on Tuesday. The firm has a market cap of $614.28 million, a price-to-earnings ratio of -1.19 and a beta of 1.76. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $12.49. The business’s 50 day moving average is $4.49 and its two-hundred day moving average is $6.59. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. On average, research analysts predict that Bumble Inc. will post 4.19 EPS for the current year.

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.