Bumble (NASDAQ:BMBL) Cut to “Hold” at Hsbc Global Res

Hsbc Global Res cut shares of Bumble (NASDAQ:BMBL) from a strong-buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

BMBL has been the topic of several other reports. Piper Sandler reduced their target price on Bumble from $13.00 to $7.00 and set a neutral rating on the stock in a report on Thursday. Bank of America lowered Bumble from a buy rating to an underperform rating and reduced their price objective for the stock from $12.00 to $5.50 in a research note on Thursday. Citigroup lowered Bumble from a buy rating to a neutral rating and lowered their target price for the company from $12.00 to $6.00 in a research note on Thursday. Wolfe Research started coverage on shares of Bumble in a research report on Tuesday, July 16th. They set an outperform rating and a $14.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Bumble from $16.00 to $8.00 and set an outperform rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $9.91.

Bumble Stock Up 4.7 %

NASDAQ BMBL opened at $5.98 on Friday. Bumble has a 1-year low of $4.80 and a 1-year high of $17.31. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $9.66 and its two-hundred day moving average is $10.94. The company has a market capitalization of $754.67 million, a price-to-earnings ratio of 35.18 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. Bumble’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. Equities analysts forecast that Bumble will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Bumble

In other news, Director Ann Mather sold 7,492 shares of the firm’s 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 transaction, the director now directly owns 29,030 shares in the company, valued at approximately $331,232.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Bumble in the fourth quarter valued at approximately $16,112,000. Dimensional Fund Advisors LP increased its position in shares of Bumble by 39.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after buying an additional 1,013,374 shares in the last quarter. Boston Partners bought a new stake in shares of Bumble in the 4th quarter valued at $10,678,000. Vanguard Group Inc. raised its stake in Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after buying an additional 613,759 shares during the period. Finally, Archon Capital Management LLC bought a new position in Bumble during the first quarter worth about $6,370,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

About Bumble

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.