Northern Trust Corp Increases Stake in Bumble Inc. (NASDAQ:BMBL)

Northern Trust Corp grew its position in shares of Bumble Inc. (NASDAQ:BMBL) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 950,014 shares of the company’s stock after buying an additional 32,353 shares during the quarter. Northern Trust Corp owned 0.88% of Bumble worth $7,733,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after buying an additional 1,249 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after purchasing an additional 4,000 shares during the period. Cerity Partners LLC acquired a new position in shares of Bumble during the 4th quarter worth $95,000. Corient Private Wealth LLC acquired a new position in shares of Bumble during the 4th quarter worth $97,000. Finally, Olympiad Research LP acquired a new position in shares of Bumble during the 4th quarter worth $129,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Bumble from $6.80 to $4.80 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their price target on shares of Bumble from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada lowered their price target on shares of Bumble from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Piper Sandler lowered 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, Evercore ISI lowered their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bumble presently has an average rating of “Hold” and a consensus price target of $6.71.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $5.77 on Monday. The stock has a market cap of $609.00 million, a price-to-earnings ratio of -1.18 and a beta of 1.76. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $12.49. The company’s 50-day moving average price is $4.56 and its 200 day moving average price is $6.55. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The firm had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. During the same period in the prior year, the business earned $0.19 earnings per share. Bumble’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts forecast that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

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.