Allspring Global Investments Holdings LLC Has $2.59 Million Stake in Bumble Inc. (NASDAQ:BMBL)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 595,614 shares of the company’s stock after selling 35,057 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.56% of Bumble worth $2,585,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after acquiring an additional 1,249 shares in the last quarter. Franklin Resources Inc. raised its stake in Bumble by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after acquiring an additional 1,666 shares in the last quarter. Aigen Investment Management LP raised its stake in Bumble by 14.2% during the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after acquiring an additional 3,853 shares in the last quarter. Mariner LLC raised its stake in Bumble by 25.3% during the fourth quarter. Mariner LLC now owns 19,415 shares of the company’s stock worth $158,000 after acquiring an additional 3,926 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BMBL shares. Citigroup boosted their price target on Bumble from $4.80 to $7.00 and gave the stock a “neutral” rating in a report on Friday, June 27th. Wells Fargo & Company restated a “positive” rating on shares of Bumble in a report on Friday, June 27th. JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 price target on shares of Bumble in a report on Tuesday, June 3rd. Stifel Nicolaus reduced their price target on Bumble from $6.00 to $4.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group boosted their price target on Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.97.

Bumble Price Performance

Bumble stock opened at $6.55 on Monday. The stock has a market capitalization of $676.55 million, a price-to-earnings ratio of -1.34, a PEG ratio of 0.22 and a beta of 1.94. Bumble Inc. has a 52-week low of $3.55 and a 52-week high of $10.05. The stock’s 50 day moving average price is $5.51 and its two-hundred day moving average price is $5.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The business had revenue of $247.10 million for the quarter, compared to the consensus estimate of $246.68 million. Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. Bumble’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, equities analysts predict that Bumble Inc. will post 4.19 earnings per share for the current year.

About Bumble

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.