Janney Montgomery Scott LLC Invests $214,000 in Bumble Inc. (NASDAQ:BMBL)

Janney Montgomery Scott LLC purchased a new position in Bumble Inc. (NASDAQ:BMBL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,236 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after acquiring an additional 2,760 shares during the last quarter. nVerses Capital LLC increased its position in shares of Bumble by 47.9% during the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock valued at $114,000 after acquiring an additional 5,800 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Bumble by 11.3% during the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after acquiring an additional 6,325 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Bumble during the fourth quarter valued at about $56,000. Finally, Versor Investments LP increased its position in shares of Bumble by 25.3% during the third quarter. Versor Investments LP now owns 38,600 shares of the company’s stock valued at $246,000 after acquiring an additional 7,800 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BMBL shares. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Susquehanna lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Piper Sandler restated a “neutral” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bumble currently has an average rating of “Hold” and a consensus target price of $8.50.

Bumble Stock Down 2.5 %

Shares of Bumble stock opened at $8.23 on Thursday. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $14.08. The company has a 50 day moving average of $8.04 and a 200 day moving average of $7.47. 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 capitalization of $890.32 million, a P/E ratio of -1.68 and a beta of 1.70.

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.