Bumble Inc. (NASDAQ:BMBL) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Bumble Inc. (NASDAQ:BMBL) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,311 shares of the company’s stock after selling 6,776 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Bumble worth $1,727,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Bumble by 73.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after acquiring an additional 2,210 shares during the last quarter. Innealta Capital LLC purchased a new position in Bumble during the second quarter worth approximately $64,000. Neo Ivy Capital Management purchased a new position in Bumble during the fourth quarter worth approximately $162,000. nVerses Capital LLC raised its stake in Bumble by 128.3% during the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after purchasing an additional 6,800 shares during the period. Finally, FourWorld Capital Management LLC purchased a new position in Bumble during the first quarter worth approximately $165,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen downgraded shares of Bumble from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $7.50 in a research note on Friday, August 16th. Wolfe Research initiated coverage on shares of Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price objective for the company. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and decreased their price target for the company from $18.00 to $8.00 in a report on Thursday, August 8th. Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and decreased their price target for the company from $12.00 to $5.50 in a report on Thursday, August 8th. Finally, BTIG Research downgraded shares of Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.62.

Bumble Stock Performance

Bumble stock opened at $6.09 on Friday. The firm’s 50 day simple moving average is $7.30 and its 200-day simple moving average is $9.55. Bumble Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $15.90. The company has a market cap of $768.55 million, a P/E ratio of 35.82 and a beta of 1.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that Bumble Inc. will post 0.83 EPS for the current 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.