KeyCorp Cuts Bumble (NASDAQ:BMBL) Price Target to $16.00

Bumble (NASDAQ:BMBL) had its price objective reduced by equities researchers at KeyCorp from $18.00 to $16.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 55.34% from the stock’s current price.

BMBL has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Raymond James reissued a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Susquehanna decreased their price objective on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research note on Thursday, February 29th. BTIG Research cut their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target (down previously from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.52.

Bumble Stock Down 1.7 %

NASDAQ:BMBL opened at $10.30 on Monday. 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 capitalization of $1.33 billion, a price-to-earnings ratio of -343.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. Bumble has a 52 week low of $9.93 and a 52 week high of $21.06. The stock’s fifty day moving average is $10.78 and its two-hundred day moving average is $12.89.

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%. Research analysts anticipate that Bumble will post 0.66 EPS for the current year.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Bumble stock in a transaction 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 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Bumble by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock valued at $150,478,000 after acquiring an additional 495,671 shares during the period. Wellington Management Group LLP boosted its stake in Bumble by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after purchasing an additional 347,238 shares during the period. Dimensional Fund Advisors LP grew its position in Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after purchasing an additional 1,013,374 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Bumble by 12.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after purchasing an additional 397,741 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Bumble by 15.7% in the third quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock valued at $28,446,000 after buying an additional 258,288 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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 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.