Bumble Inc. (NASDAQ:BMBL) Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 278,511 shares of the company’s stock after selling 11,709 shares during the period. Bank of New York Mellon Corp owned 0.26% of Bumble worth $2,267,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. bought a new position in Bumble in the 3rd quarter worth about $911,000. Victory Capital Management Inc. grew its position in Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the last quarter. Intech Investment Management LLC bought a new position in Bumble in the 3rd quarter worth about $203,000. D.A. Davidson & CO. bought a new position in Bumble in the 3rd quarter worth about $77,000. Finally, Cinctive Capital Management LP grew its position in Bumble by 25.7% in the 3rd quarter. Cinctive Capital Management LP now owns 122,926 shares of the company’s stock worth $784,000 after purchasing an additional 25,150 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BMBL has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Piper Sandler reduced their price target 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 target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Citigroup cut their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Bumble Stock Performance

NASDAQ BMBL opened at $4.53 on Friday. The company has a market capitalization of $478.12 million, a price-to-earnings ratio of -0.93 and a beta of 1.77. Bumble Inc. has a twelve month low of $4.46 and a twelve month high of $12.49. The stock has a fifty day simple moving average of $6.64 and a 200 day simple moving average of $7.18. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

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.