SG Americas Securities LLC Acquires New Holdings in Bumble Inc. (NASDAQ:BMBL)

SG Americas Securities LLC bought a new stake in Bumble Inc. (NASDAQ:BMBL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,101 shares of the company’s stock, valued at approximately $71,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after buying an additional 613,759 shares during the period. Point72 Asset Management L.P. bought a new position in Bumble during the second quarter worth about $24,121,000. The Manufacturers Life Insurance Company grew its stake in Bumble by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after acquiring an additional 297,057 shares during the period. Boston Partners increased its holdings in shares of Bumble by 2.0% in the first quarter. Boston Partners now owns 746,483 shares of the company’s stock worth $8,348,000 after acquiring an additional 14,309 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Bumble by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock worth $7,434,000 after acquiring an additional 83,397 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMBL. Stifel Nicolaus lowered Bumble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $13.00 to $6.50 in a research report on Thursday, August 8th. Piper Sandler cut their price target on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $18.00 to $8.00 in a report on Thursday, August 8th. Finally, BTIG Research lowered shares of Bumble from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.50.

Bumble Price Performance

NASDAQ:BMBL opened at $7.13 on Tuesday. The stock has a market capitalization of $899.80 million, a PE ratio of 41.94 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 firm has a fifty day simple moving average of $6.63 and a 200 day simple moving average of $8.76. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million during 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 company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. On average, research analysts expect that Bumble Inc. will post 0.77 EPS for the current fiscal 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.