Handelsbanken Fonder AB Has $227,000 Stock Position in Bumble Inc. (NASDAQ:BMBL)

Handelsbanken Fonder AB grew its position in shares of Bumble Inc. (NASDAQ:BMBL) by 24.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,400 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Bumble were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BMBL. EverSource Wealth Advisors LLC bought a new stake in Bumble in the third quarter worth approximately $45,000. FNY Investment Advisers LLC acquired a new position in Bumble during the fourth quarter worth $68,000. Campbell & CO Investment Adviser LLC bought a new position in Bumble during the third quarter valued at about $161,000. Spire Wealth Management lifted its position in shares of Bumble by 2,304.3% in the third quarter. Spire Wealth Management now owns 11,060 shares of the company’s stock worth $165,000 after buying an additional 10,600 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Bumble in the third quarter worth about $177,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Down 0.2 %

Bumble stock opened at $10.14 on Friday. The business has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $12.95. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. Bumble Inc. has a 12 month low of $9.93 and a 12 month high of $21.06. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -336.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last issued its earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates 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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMBL. JPMorgan Chase & Co. cut their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price target on shares of Bumble in a research report on Wednesday, February 28th. Morgan Stanley started coverage on shares of Bumble in a report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price objective for the company. BTIG Research dropped their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, KeyCorp cut their target price on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.68.

Insider Activity

In other 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 shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 7.84% of the company’s stock.

About Bumble

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.