Bumble Inc. (NASDAQ:BMBL) Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of Bumble Inc. (NASDAQ:BMBL) by 97.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,504 shares of the company’s stock after selling 1,989,095 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bumble were worth $341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in Bumble in the third quarter worth approximately $203,000. Factorial Partners LLC acquired a new position in Bumble in the third quarter worth approximately $185,000. Victory Capital Management Inc. grew its position in Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after buying an additional 206,215 shares during the last quarter. Aigen Investment Management LP acquired a new position in Bumble in the third quarter worth approximately $173,000. Finally, Entropy Technologies LP acquired a new position in Bumble in the third quarter worth approximately $187,000. Institutional investors own 94.85% of the company’s stock.

Bumble Trading Up 0.5 %

Bumble stock opened at $8.32 on Monday. The company’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $8.10. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.90. The stock has a market cap of $900.07 million, a P/E ratio of -1.70 and a beta of 1.71.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. The Goldman Sachs Group lifted their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Susquehanna lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Citigroup lifted their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Bumble has a consensus rating of “Hold” and a consensus target price of $8.38.

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.