Bumble Inc. (NASDAQ:BMBL) Stock Position Lowered by Raymond James & Associates

Raymond James & Associates lessened its position in Bumble Inc. (NASDAQ:BMBL) by 13.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 169,386 shares of the company’s stock after selling 26,533 shares during the quarter. Raymond James & Associates’ holdings in Bumble were worth $2,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Bumble during the second quarter worth $35,000. Public Employees Retirement System of Ohio raised its position in shares of Bumble by 50.2% during the third quarter. Public Employees Retirement System of Ohio now owns 1,633 shares of the company’s stock worth $35,000 after purchasing an additional 546 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Bumble during the first quarter worth $37,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Bumble during the third quarter worth $45,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Bumble during the second quarter worth $70,000. Institutional investors own 94.85% of the company’s stock.

Insider Buying and Selling at Bumble

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 that occurred 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 completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.56% of the company’s stock.

Bumble Trading Down 3.9 %

Bumble stock opened at $10.12 on Tuesday. The business has a 50 day moving average price of $11.71 and a two-hundred day moving average price of $13.30. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -337.33, a price-to-earnings-growth ratio of 0.30 and a beta of 1.68. Bumble Inc. has a 12 month low of $10.06 and a 12 month high of $21.06.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.31). The firm had revenue of $273.64 million during the quarter, compared to analyst estimates of $275.38 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. As a group, equities analysts forecast that Bumble Inc. will post 0.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Susquehanna cut their target price on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research report on Thursday, February 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of Bumble in a research report on Wednesday, February 28th. Morgan Stanley dropped their price target on Bumble from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Raymond James restated a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Finally, KeyCorp decreased their price target on Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Bumble currently has an average rating of “Moderate Buy” and an average price target of $17.13.

Bumble 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.