Mirae Asset Global Investments Co. Ltd. Has $1.70 Million Stock Position in Bumble Inc. (NASDAQ:BMBL)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 17.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 115,355 shares of the company’s stock after acquiring an additional 16,869 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bumble were worth $1,700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new position in shares of Bumble during the fourth quarter valued at about $68,000. SG Americas Securities LLC boosted its holdings in Bumble by 15.1% during the fourth quarter. SG Americas Securities LLC now owns 23,336 shares of the company’s stock worth $344,000 after purchasing an additional 3,062 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Bumble by 20.1% during the fourth quarter. Moody National Bank Trust Division now owns 63,007 shares of the company’s stock worth $929,000 after purchasing an additional 10,530 shares during the last quarter. Renaissance Capital LLC boosted its holdings in Bumble by 26.3% during the fourth quarter. Renaissance Capital LLC now owns 64,098 shares of the company’s stock worth $945,000 after purchasing an additional 13,353 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Bumble by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after purchasing an additional 297,286 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BMBL shares. Morgan Stanley started coverage on shares of Bumble in a report on Thursday. They set an “equal weight” rating and a $13.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of Bumble in a report on Wednesday, February 28th. BTIG Research lowered their price objective on shares of Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Bumble has an average rating of “Moderate Buy” and a consensus price target of $16.91.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction 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 $142,102.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 7.56% of the company’s stock.

Bumble Stock Performance

NASDAQ BMBL opened at $10.18 on Friday. The company’s 50 day moving average is $11.45 and its 200-day moving average is $13.19. Bumble Inc. has a 12-month low of $9.94 and a 12-month high of $21.06. 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 firm has a market cap of $1.32 billion, a P/E ratio of -339.33, a price-to-earnings-growth ratio of 0.29 and a beta of 1.68.

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

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.