Proficio Capital Partners LLC Purchases New Stake in Bumble Inc. (NASDAQ:BMBL)

Proficio Capital Partners LLC purchased a new position in Bumble Inc. (NASDAQ:BMBL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,158 shares of the company’s stock, valued at approximately $189,000.

A number of other institutional investors have also modified their holdings of the business. Empowered Funds LLC acquired a new position in Bumble in the fourth quarter valued at approximately $187,000. Principal Financial Group Inc. bought a new stake in Bumble in the third quarter valued at $911,000. Victory Capital Management Inc. lifted its stake in Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after buying an additional 206,215 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 period. Finally, Franklin Resources Inc. grew 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 worth $421,000 after acquiring an additional 6,325 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

Shares of BMBL opened at $4.99 on Thursday. 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 firm’s 50 day moving average is $7.08 and its 200-day moving average is $7.28. Bumble Inc. has a 12-month low of $4.58 and a 12-month high of $12.49. The stock has a market capitalization of $526.67 million, a P/E ratio of -1.02 and a beta of 1.77.

Wall Street Analysts Forecast Growth

BMBL has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada reduced their price objective on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Evercore ISI lowered their target price on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley cut their target price on Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price target on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.39.

Bumble Company Profile

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.