UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 16,953 Shares of Bumble Inc. (NASDAQ:BMBL)

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ensign Peak Advisors Inc boosted its position in Bumble by 9.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock valued at $603,000 after acquiring an additional 4,800 shares in the last quarter. nVerses Capital LLC lifted its stake in shares of Bumble by 47.9% in the 3rd quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock valued at $114,000 after purchasing an additional 5,800 shares during the period. Innealta Capital LLC purchased a new stake in Bumble in the second quarter worth $64,000. Victory Capital Management Inc. grew its stake in Bumble by 20.6% in the second quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock worth $460,000 after purchasing an additional 7,475 shares during the period. Finally, Versor Investments LP raised its holdings in Bumble by 25.3% in the third quarter. Versor Investments LP now owns 38,600 shares of the company’s stock worth $246,000 after purchasing an additional 7,800 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

BMBL has been the topic of several research reports. Piper Sandler reissued a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. KeyCorp cut Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Citigroup upped their price target on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price objective on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Bumble presently has a consensus rating of “Hold” and a consensus target price of $8.38.

Bumble Stock Performance

Shares of BMBL stock opened at $8.27 on Wednesday. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.46. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $894.67 million, a PE ratio of -1.69 and a beta of 1.71. The business has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $8.06.

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.