Allspring Global Investments Holdings LLC Sells 37,735 Shares of Bumble Inc. (NASDAQ:BMBL)

Allspring Global Investments Holdings LLC decreased its position in Bumble Inc. (NASDAQ:BMBL) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 669,600 shares of the company’s stock after selling 37,735 shares during the period. Allspring Global Investments Holdings LLC owned 0.53% of Bumble worth $4,272,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in Bumble by 8.5% in the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock valued at $206,000 after acquiring an additional 1,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Bumble by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company’s stock valued at $734,000 after acquiring an additional 3,683 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in Bumble by 9.1% in the second quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock valued at $603,000 after buying an additional 4,800 shares during the period. nVerses Capital LLC lifted its stake in Bumble by 47.9% in the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock valued at $114,000 after buying an additional 5,800 shares during the period. Finally, Innealta Capital LLC acquired a new position in Bumble in the second quarter valued at about $64,000. Institutional investors own 94.85% of the company’s stock.

Bumble Stock Up 0.3 %

NASDAQ:BMBL opened at $7.13 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market cap of $899.80 million, a PE ratio of 41.94 and a beta of 1.66. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.90. The stock has a 50-day simple moving average of $6.63 and a 200 day simple moving average of $8.76.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. On average, sell-side analysts expect that Bumble Inc. will post 0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on BMBL shares. HSBC reissued a “hold” rating on shares of Bumble in a research note on Friday, August 9th. BTIG Research lowered Bumble from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Royal Bank of Canada cut their target price on Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Bank of America lowered Bumble from a “buy” rating to an “underperform” rating and cut their target price for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. Finally, Wolfe Research began coverage on Bumble in a research report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, 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.