70,595 Shares in Bumble Inc. (NASDAQ:BMBL) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new stake in shares of Bumble Inc. (NASDAQ:BMBL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,595 shares of the company’s stock, valued at approximately $306,000. XTX Topco Ltd owned approximately 0.07% of Bumble at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in shares of Bumble in the first quarter valued at about $808,000. Federated Hermes Inc. acquired a new position in shares of Bumble in the first quarter valued at about $3,231,000. Mackenzie Financial Corp increased its holdings in shares of Bumble by 123.9% in the first quarter. Mackenzie Financial Corp now owns 111,569 shares of the company’s stock valued at $484,000 after purchasing an additional 61,747 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bumble by 25.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,092 shares of the company’s stock valued at $152,000 after purchasing an additional 7,212 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Bumble in the first quarter valued at about $62,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BMBL. Stifel Nicolaus cut their price objective on Bumble from $6.00 to $4.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group raised their target price on Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Bumble in a report on Friday, June 27th. Royal Bank Of Canada raised their target price on Bumble from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley raised their target price on Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.64.

Bumble Stock Performance

Shares of BMBL stock opened at $6.32 on Monday. The company has a market capitalization of $652.80 million, a P/E ratio of -1.29, a P/E/G ratio of 0.23 and a beta of 1.96. The business’s 50 day moving average is $6.46 and its two-hundred day moving average is $5.84. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $9.22.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.27. The company had revenue of $248.23 million for the quarter, compared to the consensus estimate of $243.72 million. Bumble had a positive return on equity of 9.68% and a negative net margin of 82.41%. Bumble’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 earnings per share. Analysts expect that Bumble Inc. will post 4.19 EPS 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.