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

Bank of New York Mellon Corp trimmed its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 371,528 shares of the company’s stock after selling 13,342 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of Bumble worth $3,905,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Bumble by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 984,055 shares of the company’s stock valued at $14,505,000 after acquiring an additional 28,209 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bumble by 39.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after purchasing an additional 1,013,374 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Bumble by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,185,850 shares of the company’s stock valued at $17,479,000 after buying an additional 6,891 shares during the last quarter. Norges Bank bought a new stake in shares of Bumble in the 4th quarter valued at about $16,112,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of Bumble by 2.7% in the 4th quarter. Clearbridge Investments LLC now owns 51,649 shares of the company’s stock valued at $761,000 after buying an additional 1,369 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.

Bumble Price Performance

NASDAQ:BMBL opened at $6.32 on Friday. The firm’s fifty day moving average is $7.62 and its two-hundred day moving average is $9.72. The firm has a market cap of $799.73 million, a price-to-earnings ratio of 37.18 and a beta of 1.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. Bumble Inc. has a one year low of $4.80 and a one year high of $16.05.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. Research analysts expect that Bumble Inc. will post 0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMBL. TD Cowen cut shares of Bumble from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $7.50 in a research report on Friday, August 16th. HSBC reiterated a “hold” rating on shares of Bumble in a report on Friday, August 9th. Wolfe Research started coverage on Bumble in a research note on Tuesday, July 16th. They set an “outperform” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. cut Bumble from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $7.00 in a research note on Thursday, August 8th. Finally, Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.62.

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.