Vident Advisory LLC Makes New Investment in Bumble Inc. $BMBL

Vident Advisory LLC acquired a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,013 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pale Fire Capital SE acquired a new position in shares of Bumble in the 1st quarter valued at $43,000. Teacher Retirement System of Texas acquired a new position in shares of Bumble in the 1st quarter valued at $49,000. Tyche Wealth Partners LLC acquired a new position in shares of Bumble in the 1st quarter valued at $52,000. Kestra Private Wealth Services LLC acquired a new position in shares of Bumble in the 1st quarter valued at $54,000. Finally, HB Wealth Management LLC acquired a new position in shares of Bumble in the 1st quarter valued at $62,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BMBL shares. UBS Group lifted their price objective on shares of Bumble from $6.00 to $7.50 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reiterated a “positive” rating on shares of Bumble in a research report on Friday, June 27th. Citigroup lifted their price objective on shares of Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Zacks Research upgraded shares of Bumble to a “hold” rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada lifted their price objective on shares of Bumble from $7.00 to $7.50 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.63.

Insider Activity at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,124,652 shares of company stock worth $426,460,322. Corporate insiders own 15.84% of the company’s stock.

Bumble Price Performance

Bumble stock opened at $6.75 on Friday. Bumble Inc. has a 52 week low of $3.55 and a 52 week high of $9.22. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. The firm’s 50-day simple moving average is $6.85 and its 200 day simple moving average is $5.65. The firm has a market capitalization of $702.07 million, a PE ratio of -1.38, a P/E/G ratio of 0.91 and a beta of 1.95.

Bumble (NASDAQ:BMBL) last announced its earnings results on Wednesday, August 6th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The firm had revenue of $248.23 million during the quarter, compared to the consensus estimate of $243.72 million. During the same quarter in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities research analysts predict that Bumble Inc. will post 4.19 EPS for the current fiscal year.

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.