Bumble Inc. (NASDAQ:BMBL) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in Bumble Inc. (NASDAQ:BMBL) by 83.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,650 shares of the company’s stock after selling 847,299 shares during the period. Millennium Management LLC owned 0.15% of Bumble worth $1,340,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BMBL. SG Americas Securities LLC raised its position in Bumble by 189.2% in the fourth quarter. SG Americas Securities LLC now owns 32,107 shares of the company’s stock valued at $261,000 after purchasing an additional 21,006 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Bumble during the fourth quarter worth $214,000. Westbourne Investment Advisors Inc. increased its holdings in Bumble by 18.4% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company’s stock valued at $3,960,000 after buying an additional 75,635 shares during the last quarter. Empowered Funds LLC purchased a new position in Bumble in the fourth quarter valued at $187,000. Finally, Rhumbline Advisers increased its holdings in Bumble by 1.4% in the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after buying an additional 2,157 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $5.37 on Wednesday. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $12.03. The company has a market cap of $554.67 million, a P/E ratio of -1.10 and a beta of 1.76. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The company’s fifty day moving average is $4.81 and its two-hundred day moving average is $6.38.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $246.68 million. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Equities analysts expect that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BMBL has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus lowered their target price on shares of Bumble from $6.00 to $4.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 target price on shares of Bumble in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Bumble from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada reduced their price objective on shares of Bumble from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.58.

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.