Bumble Inc. (NASDAQ:BMBL) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 470.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,025 shares of the company’s stock after buying an additional 206,215 shares during the quarter. Victory Capital Management Inc. owned 0.20% of Bumble worth $1,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Bumble during the 2nd quarter worth about $64,000. SG Americas Securities LLC acquired a new stake in shares of Bumble during the third quarter worth about $71,000. Capital Management Associates Inc purchased a new position in shares of Bumble in the third quarter valued at approximately $74,000. Meeder Asset Management Inc. acquired a new position in shares of Bumble in the second quarter valued at approximately $82,000. Finally, Headlands Technologies LLC purchased a new stake in Bumble during the 2nd quarter worth approximately $94,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on BMBL shares. The Goldman Sachs Group raised their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HSBC reissued a “hold” rating on shares of Bumble in a research note on Friday, August 9th. KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. TD Cowen downgraded Bumble from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $7.50 in a research report on Friday, August 16th. Finally, Bank of America cut shares of Bumble from a “buy” rating to an “underperform” rating and reduced their target price for the company from $12.00 to $5.50 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Bumble has an average rating of “Hold” and a consensus target price of $8.38.

Bumble Price Performance

Bumble stock opened at $9.08 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The business has a 50 day simple moving average of $7.15 and a 200-day simple moving average of $8.42. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.90. The stock has a market capitalization of $982.27 million, a PE ratio of -1.86 and a beta of 1.62.

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.