BNP Paribas Financial Markets Buys New Stake in Bumble Inc. (NASDAQ:BMBL)

BNP Paribas Financial Markets bought a new stake in Bumble Inc. (NASDAQ:BMBL) in the 4th quarter, HoldingsChannel.com reports. The firm bought 250,847 shares of the company’s stock, valued at approximately $2,042,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after acquiring an additional 1,298,630 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Bumble by 14.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,194 shares of the company’s stock worth $295,000 after acquiring an additional 4,584 shares during the period. PDT Partners LLC acquired a new position in Bumble during the fourth quarter worth $1,767,000. Northern Trust Corp raised its position in Bumble by 3.5% during the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after acquiring an additional 32,353 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Bumble during the fourth quarter worth $451,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BMBL shares. Morgan Stanley reduced their price objective on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Citigroup reduced their target price on shares of Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a research report on Friday, April 25th. Piper Sandler reduced their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. UBS Group increased their target price on shares of Bumble from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Evercore ISI reduced their target price on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.71.

Bumble Stock Down 0.7%

Shares of BMBL opened at $5.77 on Friday. The stock has a market capitalization of $609.00 million, a PE ratio of -1.18 and a beta of 1.76. Bumble Inc. has a 1 year low of $3.55 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The company’s 50-day simple moving average is $4.56 and its 200-day simple moving average is $6.56.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business 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 firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. Analysts forecast that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

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.