Bumble Inc. (NASDAQ:BMBL) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in shares of Bumble Inc. (NASDAQ:BMBL) by 78.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,038 shares of the company’s stock after selling 214,585 shares during the period. Bank of Montreal Can’s holdings in Bumble were worth $622,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BMBL. Ensign Peak Advisors Inc grew its holdings in Bumble by 9.1% in the second quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock valued at $603,000 after purchasing an additional 4,800 shares during the period. MQS Management LLC acquired a new stake in Bumble in the second quarter valued at approximately $201,000. Hsbc Holdings PLC increased its position in shares of Bumble by 41.8% during the second quarter. Hsbc Holdings PLC now owns 60,678 shares of the company’s stock worth $631,000 after acquiring an additional 17,888 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Bumble in the 2nd quarter valued at approximately $203,000. Finally, Meeder Asset Management Inc. acquired a new position in Bumble during the 2nd quarter worth $82,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analysts Set New Price Targets

BMBL has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Evercore ISI lowered Bumble from an “outperform” rating to an “inline” rating and decreased their price target for the company from $18.00 to $8.00 in a research note on Thursday, August 8th. Piper Sandler reduced their target price on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $12.00 to $5.50 in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut shares of Bumble from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $7.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.50.

Bumble Trading Down 1.7 %

Bumble stock opened at $6.38 on Wednesday. Bumble Inc. has a 52 week low of $4.80 and a 52 week 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 firm has a market capitalization of $805.15 million, a PE ratio of 37.53 and a beta of 1.66. The business’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $9.19.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Equities research analysts forecast that Bumble Inc. will post 0.83 earnings per share for the current year.

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.