Bumble (NASDAQ:BMBL) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Bumble (NASDAQ:BMBL) from an overweight rating to an equal weight rating in a research note published on Monday, MarketBeat.com reports. They currently have $10.00 price target on the stock, down from their prior price target of $15.00.

BMBL has been the topic of a number of other reports. Bank of America raised Bumble from a neutral rating to a buy rating and set a $14.00 target price on the stock in a research report on Friday, May 10th. Raymond James restated a market perform rating on shares of Bumble in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lowered their target price on Bumble from $15.00 to $13.00 and set a hold rating on the stock in a research note on Thursday, May 9th. KeyCorp decreased their price target on Bumble from $18.00 to $16.00 and set an overweight rating for the company in a research note on Monday, May 6th. Finally, Morgan Stanley began coverage on Bumble in a research note on Thursday, April 18th. They set an equal weight rating and a $13.00 price target for the company. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $15.22.

Bumble Price Performance

Shares of BMBL opened at $9.30 on Monday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 54.71 and a beta of 1.70. The stock has a 50 day moving average of $10.84 and a 200-day moving average of $11.82. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble has a 52 week low of $9.12 and a 52 week high of $21.06.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Bumble will post 0.9 EPS for the current year.

Insider Activity

In other news, Director Ann Mather sold 7,492 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now directly owns 29,030 shares in the company, valued at approximately $331,232.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.84% of the stock is owned by corporate insiders.

Institutional Trading of Bumble

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC lifted its position in Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,092 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Bumble in the 4th quarter valued at approximately $68,000. EverSource Wealth Advisors LLC grew its stake in Bumble by 73.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock valued at $77,000 after buying an additional 2,210 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Bumble in the 4th quarter valued at approximately $162,000. Finally, FourWorld Capital Management LLC purchased a new position in shares of Bumble during the 1st quarter valued at $165,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.