Invesco Ltd. Acquires 86,600 Shares of Bumble Inc. $BMBL

Invesco Ltd. raised its holdings in Bumble Inc. (NASDAQ:BMBL) by 45.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,346 shares of the company’s stock after purchasing an additional 86,600 shares during the quarter. Invesco Ltd. owned 0.26% of Bumble worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of BMBL. RPD Fund Management LLC bought a new position in Bumble in the 4th quarter valued at $30,940,000. Ameriprise Financial Inc. grew its stake in Bumble by 25.5% in the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the period. Federated Hermes Inc. purchased a new position in shares of Bumble during the 1st quarter valued at $3,231,000. BNP Paribas Financial Markets purchased a new position in shares of Bumble during the 4th quarter valued at $2,042,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Bumble during the 1st quarter valued at $808,000. Institutional investors own 94.85% of the company’s stock.

Insider Buying and Selling at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder – Nq L.L.C. Btoa sold 16,689,884 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Insiders have sold a total of 68,124,652 shares of company stock worth $426,460,322 in the last three months. 15.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BMBL shares. Wells Fargo & Company reaffirmed a “positive” rating on shares of Bumble in a research report on Friday, June 27th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price target on shares of Bumble in a research report on Tuesday, June 3rd. The Goldman Sachs Group upped their price target on Bumble from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Zacks Research raised Bumble to a “hold” rating in a research report on Friday, August 8th. Finally, Citigroup upped their price target on Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bumble currently has a consensus rating of “Hold” and a consensus price target of $6.63.

Bumble Stock Performance

Shares of BMBL opened at $6.17 on Tuesday. The stock’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $5.63. The stock has a market capitalization of $641.74 million, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 3.30 and a current ratio of 3.30. Bumble Inc. has a 52-week low of $3.55 and a 52-week high of $9.22.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data 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 business had revenue of $248.23 million for the quarter, compared to analysts’ expectations of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. Research analysts forecast 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.