Principal Financial Group Inc. Grows Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Principal Financial Group Inc. boosted its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,822 shares of the company’s stock after purchasing an additional 12,032 shares during the quarter. Principal Financial Group Inc. owned about 0.16% of Bumble worth $741,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BMBL. Tower Research Capital LLC TRC increased its position in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after acquiring an additional 1,249 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Bumble by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after purchasing an additional 1,666 shares during the last quarter. Mariner LLC grew its holdings in shares of Bumble by 25.3% in the fourth quarter. Mariner LLC now owns 19,415 shares of the company’s stock worth $158,000 after purchasing an additional 3,926 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Bumble by 56.3% in the fourth 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 last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Bumble by 14.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,194 shares of the company’s stock worth $295,000 after purchasing an additional 4,584 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

BMBL stock opened at $7.14 on Friday. The firm has a market cap of $737.49 million, a price-to-earnings ratio of -1.46, a PEG ratio of 0.24 and a beta of 1.94. The firm has a 50-day simple moving average of $5.92 and a two-hundred day simple moving average of $5.86. Bumble Inc. has a one year low of $3.55 and a one year high of $9.72. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $246.68 million. Bumble had a negative net margin of 54.06% and a positive return on equity of 5.81%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities analysts forecast that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BMBL. Morgan Stanley cut their price target on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. UBS Group upped their price target on shares of Bumble from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 price target on shares of Bumble in a report on Tuesday, June 3rd. Citigroup upped their price target on shares of Bumble from $4.80 to $7.00 and gave the stock a “neutral” rating in a report on Friday, June 27th. Finally, Wells Fargo & Company restated a “positive” rating on shares of Bumble in a report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.50.

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.