Bumble Inc. (NASDAQ:BMBL) Stock Position Trimmed by Millennium Management LLC

Millennium Management LLC decreased its position in Bumble Inc. (NASDAQ:BMBL) by 45.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,510,546 shares of the company’s stock after selling 1,244,270 shares during the period. Millennium Management LLC owned approximately 1.20% of Bumble worth $15,876,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BMBL. Seven Eight Capital LP bought a new position in Bumble in the 4th quarter worth approximately $781,000. Granahan Investment Management LLC lifted its holdings in Bumble by 9.0% in the 4th quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock valued at $20,176,000 after acquiring an additional 113,277 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Bumble during the 4th quarter valued at about $162,000. Virtu Financial LLC acquired a new position in shares of Bumble in the 4th quarter worth approximately $215,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after purchasing an additional 397,741 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMBL. Morgan Stanley cut their target price on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Citigroup downgraded shares of Bumble from a “buy” rating to a “neutral” rating and cut their target price for the stock from $12.00 to $6.00 in a research report on Thursday, August 8th. TD Cowen lowered Bumble from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $7.50 in a report on Friday, August 16th. Royal Bank of Canada decreased their price objective on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Stifel Nicolaus lowered Bumble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $6.50 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Bumble currently has an average rating of “Hold” and a consensus target price of $8.50.

Bumble Stock Up 1.5 %

NASDAQ BMBL opened at $6.65 on Friday. Bumble Inc. has a twelve month low of $4.80 and a twelve month high of $15.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market cap of $839.22 million, a PE ratio of 39.12 and a beta of 1.66. The firm has a 50-day simple moving average of $6.74 and a 200 day simple moving average of $9.24.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. On average, research analysts forecast 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.