Bumble Inc. (NASDAQ:BMBL) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Bumble Inc. (NASDAQ:BMBL) by 8.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,669 shares of the company’s stock after selling 16,953 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Bumble worth $1,172,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BMBL. Ensign Peak Advisors Inc increased its position in Bumble by 9.1% during the second quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock worth $603,000 after purchasing an additional 4,800 shares during the last quarter. nVerses Capital LLC increased its holdings in Bumble by 47.9% in the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock valued at $114,000 after buying an additional 5,800 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Bumble during the 2nd quarter valued at approximately $64,000. Victory Capital Management Inc. boosted its holdings in shares of Bumble by 20.6% in the 2nd quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock valued at $460,000 after buying an additional 7,475 shares during the period. Finally, Versor Investments LP grew its holdings in shares of Bumble by 25.3% during the third quarter. Versor Investments LP now owns 38,600 shares of the company’s stock valued at $246,000 after purchasing an additional 7,800 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BMBL. Susquehanna boosted their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Piper Sandler restated a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Finally, Citigroup increased their target price on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.38.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $8.27 on Wednesday. The company has a 50 day moving average of $7.84 and a 200 day moving average of $8.06. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $894.67 million, a P/E ratio of -1.69 and a beta of 1.71. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.46.

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.