Bumble (NASDAQ:BMBL) Sets New 1-Year Low at $10.28

Bumble Inc. (NASDAQ:BMBL)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.28 and last traded at $10.33, with a volume of 815306 shares changing hands. The stock had previously closed at $10.53.

Analyst Ratings Changes

BMBL has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Raymond James restated a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Morgan Stanley cut their price objective on Bumble from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $16.00 price objective on shares of Bumble in a report on Wednesday, February 28th. Finally, KeyCorp cut their price objective on Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Bumble Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. The company has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $13.26.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.31). Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The company had revenue of $273.64 million during the quarter, compared to the consensus estimate of $275.38 million. On average, equities analysts predict that Bumble Inc. will post 0.66 EPS for the current year.

Insider Activity at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 7.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bumble

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in Bumble in the second quarter worth $35,000. Public Employees Retirement System of Ohio raised its holdings in Bumble by 50.2% in the third quarter. Public Employees Retirement System of Ohio now owns 1,633 shares of the company’s stock worth $35,000 after purchasing an additional 546 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in Bumble in the first quarter worth $37,000. Headlands Technologies LLC grew its stake in shares of Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,092 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Bumble in the third quarter worth $45,000. Institutional investors own 94.85% of the company’s stock.

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.