Bumble Inc. (NASDAQ:BMBL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Bumble Inc. (NASDAQ:BMBL) by 470.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 250,025 shares of the company’s stock after acquiring an additional 206,215 shares during the period. Victory Capital Management Inc.’s holdings in Bumble were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

BMBL has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered 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 research note on Thursday, August 8th. Wells Fargo & Company dropped their price objective on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on shares of Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Bumble has a consensus rating of “Hold” and a consensus target price of $8.38.

Bumble Trading Up 11.0 %

NASDAQ:BMBL opened at $9.08 on Tuesday. The business’s 50-day moving average is $7.15 and its two-hundred day moving average is $8.42. The firm has a market capitalization of $982.27 million, a PE ratio of -1.86 and a beta of 1.62. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

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.