Caxton Associates LLP Acquires New Holdings in Bumble Inc. $BMBL

Caxton Associates LLP bought a new stake in Bumble Inc. (NASDAQ:BMBL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 374,484 shares of the company’s stock, valued at approximately $2,468,000. Caxton Associates LLP owned about 0.36% of Bumble at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Maple Rock Capital Partners Inc. purchased a new position in shares of Bumble in the 2nd quarter worth approximately $30,127,000. Bank of America Corp DE lifted its position in Bumble by 11.2% during the second quarter. Bank of America Corp DE now owns 1,856,221 shares of the company’s stock valued at $12,232,000 after acquiring an additional 187,299 shares during the last quarter. Federated Hermes Inc. boosted its stake in Bumble by 57.6% in the second quarter. Federated Hermes Inc. now owns 1,173,055 shares of the company’s stock valued at $7,730,000 after acquiring an additional 428,559 shares in the last quarter. Nordea Investment Management AB purchased a new position in Bumble in the second quarter worth $7,337,000. Finally, PDT Partners LLC grew its holdings in Bumble by 28.8% in the second quarter. PDT Partners LLC now owns 957,624 shares of the company’s stock worth $6,311,000 after purchasing an additional 213,881 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on BMBL shares. Royal Bank Of Canada lowered Bumble from a “moderate buy” rating to a “hold” rating and decreased their price objective for the company from $7.50 to $5.00 in a report on Thursday, November 6th. The Goldman Sachs Group reduced their target price on Bumble from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Wells Fargo & Company lowered their price target on Bumble from $7.00 to $5.50 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Evercore ISI dropped their price target on Bumble from $7.00 to $5.00 and set an “in-line” rating on the stock in a research note on Thursday, November 6th. Finally, Morgan Stanley cut their price objective on shares of Bumble from $6.00 to $3.50 and set an “equal weight” rating on the stock in a report on Wednesday, November 19th. Thirteen analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bumble presently has a consensus rating of “Reduce” and an average price target of $5.08.

Bumble Stock Performance

Shares of BMBL opened at $3.39 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.55 and a current ratio of 3.55. The stock has a 50-day moving average of $4.53 and a two-hundred day moving average of $5.78. The stock has a market cap of $382.19 million, a P/E ratio of 3.03, a P/E/G ratio of 0.10 and a beta of 1.96. Bumble Inc. has a one year low of $3.18 and a one year high of $8.82.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $246.16 million during the quarter, compared to analysts’ expectations of $244.19 million. Bumble had a positive return on equity of 10.85% and a negative net margin of 19.82%.The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($5.11) earnings per share. As a group, research analysts predict that Bumble Inc. will post 4.19 EPS 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.