Allspring Global Investments Holdings LLC Increases Stake in Bumble Inc. (NASDAQ:BMBL)

Allspring Global Investments Holdings LLC raised its position in Bumble Inc. (NASDAQ:BMBL) by 16.7% during the fourth quarter, HoldingsChannel reports. The firm owned 683,553 shares of the company’s stock after purchasing an additional 97,948 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bumble were worth $10,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in Bumble in the 2nd quarter valued at $35,000. Public Employees Retirement System of Ohio lifted its holdings in Bumble by 50.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,633 shares of the company’s stock valued at $35,000 after purchasing an additional 546 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in shares of Bumble during the 1st quarter worth $37,000. EverSource Wealth Advisors LLC purchased a new position in shares of Bumble during the 3rd quarter worth $45,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Bumble during the 2nd quarter worth $70,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

NASDAQ BMBL opened at $10.04 on Wednesday. The company has a market cap of $1.30 billion, a P/E ratio of -334.67, a P/E/G ratio of 0.30 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a 50-day moving average of $11.63 and a two-hundred day moving average of $13.26. Bumble Inc. has a 1-year low of $9.99 and a 1-year high of $21.06.

Bumble (NASDAQ:BMBL) last released its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share 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, analysts anticipate that Bumble Inc. will post 0.66 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. KeyCorp reduced their price target on Bumble from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. reduced their price target on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Raymond James reiterated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Susquehanna reduced their price target on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. Finally, BTIG Research cut their price objective on Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bumble presently has a consensus rating of “Moderate Buy” and an average target price of $17.13.

Insider Buying and Selling at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Bumble stock in a transaction dated 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 directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.56% of the stock is currently owned by corporate insiders.

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.