FDx Advisors Inc. trimmed its position in Bumble Inc. (NASDAQ:BMBL – Get Rating) by 48.4% in the first quarter, HoldingsChannel.com reports. The firm owned 10,496 shares of the company’s stock after selling 9,832 shares during the quarter. FDx Advisors Inc.’s holdings in Bumble were worth $304,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cannon Global Investment Management LLC acquired a new stake in shares of Bumble during the 1st quarter valued at $365,000. Whittier Trust Co. purchased a new stake in shares of Bumble in the first quarter valued at $29,000. Focused Wealth Management Inc acquired a new position in shares of Bumble in the first quarter worth $87,000. Daiwa Securities Group Inc. increased its stake in shares of Bumble by 38.9% in the first quarter. Daiwa Securities Group Inc. now owns 14,867 shares of the company’s stock worth $431,000 after acquiring an additional 4,167 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of Bumble in the first quarter worth $232,000. Institutional investors and hedge funds own 98.62% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on BMBL shares. Susquehanna lowered their target price on shares of Bumble from $33.00 to $24.00 in a research report on Thursday, May 12th. Cowen raised their price target on Bumble from $36.00 to $38.00 in a research report on Thursday, May 12th. Royal Bank of Canada lowered their price target on Bumble from $35.00 to $30.00 in a research report on Thursday, May 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Bumble in a research report on Friday, June 10th. Finally, Evercore ISI raised their price target on Bumble from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, July 8th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.36.
Bumble Stock Performance
Bumble (NASDAQ:BMBL – Get Rating) last posted its quarterly earnings data on Wednesday, May 11th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $211.20 million during the quarter, compared to analyst estimates of $208.72 million. Bumble had a negative net margin of 0.94% and a negative return on equity of 0.58%. During the same quarter last year, the business posted ($0.17) earnings per share. On average, equities analysts forecast that Bumble Inc. will post 0.17 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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.
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