Bumble (NASDAQ:BMBL) Downgraded to “Neutral” at BTIG Research

BTIG Research downgraded shares of Bumble (NASDAQ:BMBL) from a buy rating to a neutral rating in a research note released on Thursday morning, MarketBeat reports.

Several other research firms have also recently weighed in on BMBL. The Goldman Sachs Group upped their price objective on shares of Bumble from $15.00 to $18.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Evercore ISI cut shares of Bumble from an outperform rating to an inline rating and decreased their price objective for the stock from $18.00 to $8.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bumble from $15.00 to $13.00 and set a hold rating on the stock in a research report on Thursday, May 9th. Stifel Nicolaus lowered Bumble from a buy rating to a hold rating and cut their target price for the stock from $13.00 to $6.50 in a research note on Thursday. Finally, Morgan Stanley cut their target price on Bumble from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. One 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. According to data from MarketBeat.com, Bumble currently has a consensus rating of Hold and an average price target of $9.91.

Bumble Trading Up 4.7 %

Shares of BMBL opened at $5.98 on Thursday. The business’s 50-day moving average price is $9.66 and its 200-day moving average price is $10.94. Bumble has a twelve month low of $4.80 and a twelve month high of $17.31. The stock has a market cap of $754.67 million, a PE ratio of 35.18 and a beta of 1.70. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. Bumble’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. On average, equities analysts forecast that Bumble will post 0.9 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 7,492 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now owns 29,030 shares of the company’s stock, valued at $331,232.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in shares of Bumble during the second quarter valued at about $82,000. Headlands Technologies LLC purchased a new position in shares of Bumble during the 2nd quarter worth approximately $94,000. Quest Partners LLC raised its position in shares of Bumble by 46.3% in the 2nd quarter. Quest Partners LLC now owns 52,453 shares of the company’s stock worth $551,000 after acquiring an additional 16,592 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Bumble by 20.6% in the 2nd quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock valued at $460,000 after purchasing an additional 7,475 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Bumble during the second quarter valued at approximately $324,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.