Susquehanna Fundamental Investments LLC Acquires New Shares in Bumble Inc. (NASDAQ:BMBL)

Susquehanna Fundamental Investments LLC bought a new position in Bumble Inc. (NASDAQ:BMBL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 163,308 shares of the company’s stock, valued at approximately $1,716,000. Susquehanna Fundamental Investments LLC owned 0.13% of Bumble at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. ProShare Advisors LLC grew its holdings in Bumble by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after buying an additional 1,430 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Bumble by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company’s stock worth $734,000 after purchasing an additional 3,683 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Bumble by 9.1% during the second quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock valued at $603,000 after purchasing an additional 4,800 shares during the period. Moody National Bank Trust Division raised its stake in shares of Bumble by 7.8% during the first quarter. Moody National Bank Trust Division now owns 67,894 shares of the company’s stock valued at $771,000 after purchasing an additional 4,887 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Bumble in the second quarter worth about $64,000. Institutional investors own 94.85% of the company’s stock.

Bumble Trading Down 1.1 %

Shares of BMBL opened at $6.31 on Wednesday. The stock has a 50 day simple moving average of $6.88 and a 200-day simple moving average of $9.31. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $796.32 million, a PE ratio of 37.12 and a beta of 1.66. Bumble Inc. has a 1 year low of $4.80 and a 1 year high of $15.90.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. On average, sell-side analysts predict that Bumble Inc. will post 0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America downgraded shares of Bumble from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $12.00 to $5.50 in a research report on Thursday, August 8th. Susquehanna cut shares of Bumble from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $6.00 in a research note on Friday, August 9th. Evercore ISI downgraded shares of Bumble from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus lowered Bumble from a “buy” rating to a “hold” rating and reduced their price target for the company from $13.00 to $6.50 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and an average target price of $8.50.

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.