AlphaQuest LLC Purchases 16,867 Shares of Bumble Inc. (NASDAQ:BMBL)

AlphaQuest LLC increased its position in Bumble Inc. (NASDAQ:BMBL) by 43,248.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,906 shares of the company’s stock after purchasing an additional 16,867 shares during the quarter. AlphaQuest LLC’s holdings in Bumble were worth $138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. bought a new position in Bumble in the fourth quarter worth $161,000. Aigen Investment Management LP lifted its position in Bumble by 14.2% in the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after purchasing an additional 3,853 shares during the period. Proficio Capital Partners LLC bought a new position in Bumble in the fourth quarter worth $189,000. QRG Capital Management Inc. lifted its position in Bumble by 14.2% in the fourth quarter. QRG Capital Management Inc. now owns 44,126 shares of the company’s stock worth $359,000 after purchasing an additional 5,498 shares during the period. Finally, Olympiad Research LP bought a new position in Bumble in the fourth quarter worth $129,000. 94.85% of the stock is owned by institutional investors.

Bumble Price Performance

Shares of BMBL stock opened at $5.01 on Tuesday. The stock has a 50-day moving average price of $6.89 and a 200 day moving average price of $7.24. 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 firm has a market cap of $528.79 million, a price-to-earnings ratio of -1.02 and a beta of 1.77. Bumble Inc. has a 12 month low of $4.58 and a 12 month high of $12.49.

Wall Street Analyst Weigh In

Several research analysts recently commented on BMBL shares. Royal Bank of Canada reduced their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Citigroup dropped their price objective on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price objective on Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.25.

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.