Principal Financial Group Inc. Makes New Investment in Bumble Inc. (NASDAQ:BMBL)

Principal Financial Group Inc. purchased a new position in Bumble Inc. (NASDAQ:BMBL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 142,832 shares of the company’s stock, valued at approximately $911,000. Principal Financial Group Inc. owned approximately 0.13% of Bumble as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Bumble during the 2nd quarter worth $82,000. Headlands Technologies LLC purchased a new position in shares of Bumble in the 2nd quarter valued at about $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bumble during the second quarter worth approximately $111,000. SG Americas Securities LLC acquired a new stake in Bumble in the third quarter valued at approximately $71,000. Finally, Capital Management Associates Inc purchased a new position in Bumble in the third quarter worth approximately $74,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Up 1.6 %

BMBL opened at $8.10 on Friday. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.05. The business has a 50 day moving average price of $8.09 and a two-hundred day moving average price of $7.79. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a market cap of $876.27 million, a PE ratio of -1.66 and a beta of 1.71.

Analyst Ratings Changes

A number of brokerages have commented on BMBL. Stifel Nicolaus increased their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Susquehanna raised their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. The Goldman Sachs Group increased their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Bumble has a consensus rating of “Hold” and an average price target of $8.38.

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.