Corient Private Wealth LLC Takes Position in Bumble Inc. (NASDAQ:BMBL)

Corient Private Wealth LLC bought a new position in Bumble Inc. (NASDAQ:BMBL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,961 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in Bumble in the 3rd quarter worth $911,000. Prentice Capital Management LP boosted its holdings in shares of Bumble by 54.1% during the third quarter. Prentice Capital Management LP now owns 242,844 shares of the company’s stock worth $1,549,000 after purchasing an additional 85,304 shares during the period. Westbourne Investment Advisors Inc. grew its stake in shares of Bumble by 18.4% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company’s stock worth $3,960,000 after purchasing an additional 75,635 shares during the last quarter. Intech Investment Management LLC purchased a new position in Bumble during the 3rd quarter valued at about $203,000. Finally, Janney Montgomery Scott LLC bought a new position in Bumble during the 4th quarter valued at approximately $214,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Up 1.8 %

BMBL stock opened at $4.42 on Thursday. 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 business has a 50 day moving average of $6.14 and a 200 day moving average of $7.07. Bumble Inc. has a twelve month low of $4.19 and a twelve month high of $12.49. The firm has a market cap of $466.51 million, a PE ratio of -0.90 and a beta of 1.77.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Stifel Nicolaus decreased their price objective on shares of Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Citigroup dropped their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Evercore ISI reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report 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 company’s stock. Based on data from MarketBeat, Bumble presently has a consensus rating of “Hold” and an average price target of $7.25.

Bumble 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.