Bumble (NASDAQ:BMBL) Hits New 1-Year Low at $9.94

Shares of Bumble Inc. (NASDAQ:BMBL) reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.94 and last traded at $9.96, with a volume of 989445 shares changing hands. The stock had previously closed at $10.36.

Analyst Ratings Changes

Several research firms have issued reports on BMBL. Susquehanna cut their target price on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research note on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target (down from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. KeyCorp dropped their target price on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Raymond James restated a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. cut their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.91.

Bumble Price Performance

The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $11.07 and a 200-day moving average of $13.02.

Bumble (NASDAQ:BMBL) last posted its earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The company had revenue of $273.64 million during the quarter, compared to analysts’ expectations of $275.38 million. On average, sell-side analysts predict that Bumble Inc. will post 0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Bumble stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Bumble

Several hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in shares of Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after buying an additional 1,092 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Bumble during the third quarter valued at about $45,000. FNY Investment Advisers LLC purchased a new position in shares of Bumble in the 4th quarter valued at $68,000. CWM LLC lifted its position in Bumble by 1,631.0% during the 3rd quarter. CWM LLC now owns 10,386 shares of the company’s stock worth $155,000 after acquiring an additional 9,786 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Bumble in the 3rd quarter worth $161,000. Institutional investors and hedge funds 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.