Vanguard Group Inc. Trims Stake in Bumble Inc. (NASDAQ:BMBL)

Vanguard Group Inc. lowered its holdings in Bumble Inc. (NASDAQ:BMBL) by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,864,249 shares of the company’s stock after selling 1,781,059 shares during the period. Vanguard Group Inc. owned approximately 8.19% of Bumble worth $72,155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Empowered Funds LLC bought a new position in shares of Bumble in the fourth quarter worth approximately $187,000. Principal Financial Group Inc. bought a new position in shares of Bumble in the 3rd quarter worth $911,000. JPMorgan Chase & Co. raised its position in shares of Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after buying an additional 2,760 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Bumble during the 4th quarter worth $189,000. Finally, Franklin Resources Inc. grew its position in Bumble by 11.3% in the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after acquiring an additional 6,325 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Susquehanna lowered their price target on Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company cut their target price on Bumble from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group cut their price objective on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.12.

Bumble Trading Down 7.2 %

NASDAQ BMBL opened at $3.86 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $12.49. The stock has a market cap of $407.41 million, a P/E ratio of -0.79 and a beta of 1.77. The stock has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $6.94.

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.