Creative Planning Raises Position in Bumble Inc. (NASDAQ:BMBL)

Creative Planning lifted its holdings in Bumble Inc. (NASDAQ:BMBL) by 437.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,055 shares of the company’s stock after buying an additional 43,998 shares during the quarter. Creative Planning’s holdings in Bumble were worth $345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after buying an additional 613,759 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Bumble in the first quarter worth approximately $937,000. Duality Advisers LP purchased a new stake in shares of Bumble in the first quarter worth approximately $1,049,000. Picton Mahoney Asset Management purchased a new stake in shares of Bumble in the first quarter worth approximately $1,378,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Bumble in the first quarter worth approximately $831,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on BMBL shares. Piper Sandler reissued a “neutral” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research note on Thursday. Bank of America cut Bumble from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $12.00 to $5.50 in a research note on Thursday, August 8th. Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. The Goldman Sachs Group increased their price objective on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Bumble presently has a consensus rating of “Hold” and a consensus target price of $8.25.

Bumble Stock Performance

Shares of BMBL stock opened at $8.07 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of 23.59 and a beta of 1.62. The business has a 50-day simple moving average of $6.75 and a 200-day simple moving average of $8.63. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.90.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, equities analysts expect that Bumble Inc. will post 0.76 EPS for the current year.

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.