Bumble (NASDAQ:BMBL) Sets New 12-Month Low at $8.39

Bumble Inc. (NASDAQ:BMBL) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.39 and last traded at $8.48, with a volume of 173284 shares changing hands. The stock had previously closed at $8.86.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BMBL shares. 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. The Goldman Sachs Group upped their target price on Bumble from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI upped their target price on Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Finally, Wells Fargo & Company lowered Bumble from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $15.00 to $10.00 in a research report on Monday, July 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Bumble presently has an average rating of “Moderate Buy” and an average target price of $14.84.

Bumble Price Performance

The company has a fifty day moving average of $10.15 and a 200-day moving average of $11.25. The firm has a market cap of $1.07 billion, a P/E ratio of 52.12 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $267.80 million during the quarter, compared to the consensus estimate of $265.41 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, sell-side analysts anticipate that Bumble Inc. will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ann Mather sold 7,492 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the sale, the director now owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.84% of the stock is currently owned by insiders.

Institutional Trading of Bumble

A number of institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC raised its holdings in shares of 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. EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 2,210 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Bumble in the 2nd quarter valued at about $64,000. Neo Ivy Capital Management purchased a new stake in shares of Bumble in the 4th quarter valued at about $162,000. Finally, nVerses Capital LLC raised its holdings in shares of Bumble by 128.3% in the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $127,000 after acquiring an additional 6,800 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.