The Manufacturers Life Insurance Company Acquires 297,057 Shares of Bumble Inc. (NASDAQ:BMBL)

The Manufacturers Life Insurance Company grew its holdings in Bumble Inc. (NASDAQ:BMBL) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,042,599 shares of the company’s stock after purchasing an additional 297,057 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.62% of Bumble worth $21,468,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMBL. Norges Bank bought a new stake in shares of Bumble in the 4th quarter valued at about $16,112,000. Seven Eight Capital LP purchased a new position in shares of Bumble in the 4th quarter worth approximately $781,000. Granahan Investment Management LLC raised its stake in shares of Bumble by 9.0% during the 4th quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock worth $20,176,000 after acquiring an additional 113,277 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Bumble during the 4th quarter worth approximately $162,000. Finally, Virtu Financial LLC bought a new position in shares of Bumble during the 4th quarter worth approximately $215,000. Institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on BMBL shares. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $18.00 to $8.00 in a research note on Thursday, August 8th. Hsbc Global Res lowered shares of Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Wolfe Research started coverage on shares of Bumble in a research note on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen lowered shares of Bumble from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $7.50 in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Bumble Stock Down 1.1 %

NASDAQ:BMBL opened at $6.31 on Wednesday. The firm has a market capitalization of $796.32 million, a P/E ratio of 37.12 and a beta of 1.66. Bumble Inc. has a 1-year low of $4.80 and a 1-year high of $15.90. The company’s fifty day moving average price is $6.88 and its 200-day moving average price is $9.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38.

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

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.