Victory Capital Management Inc. Has $674,000 Stock Position in Bumble Inc. (NASDAQ:BMBL)

Victory Capital Management Inc. lowered its stake in Bumble Inc. (NASDAQ:BMBL) by 66.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,835 shares of the company’s stock after selling 167,190 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Bumble worth $674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BMBL. FNY Investment Advisers LLC bought a new position in Bumble during the fourth quarter worth about $56,000. D.A. Davidson & CO. bought a new position in Bumble during the third quarter worth about $77,000. Quantinno Capital Management LP bought a new position in Bumble during the third quarter worth about $90,000. Olympiad Research LP bought a new position in Bumble during the fourth quarter worth about $129,000. Finally, Empowered Funds LLC bought a new position in Bumble in the 4th quarter valued at about $187,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Price Performance

Bumble stock opened at $4.53 on Friday. The stock’s fifty day moving average price is $6.64 and its two-hundred day moving average price is $7.18. Bumble Inc. has a one year low of $4.46 and a one year high of $12.49. 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 has a market cap of $478.12 million, a PE ratio of -0.93 and a beta of 1.77.

Analyst Ratings Changes

BMBL has been the topic of several research reports. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Evercore ISI dropped their price target on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup dropped their price target on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.25.

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.