Bumble (NASDAQ:BMBL) Sets New 1-Year Low at $10.28

Shares of Bumble Inc. (NASDAQ:BMBL) reached a new 52-week low on Monday . The stock traded as low as $10.28 and last traded at $10.33, with a volume of 815306 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BMBL shares. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Susquehanna cut their price objective on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. BTIG Research cut their price objective on Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Raymond James restated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.13.

Bumble Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a 50-day moving average price of $11.63 and a two-hundred day moving average price of $13.26.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.31). Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The company had revenue of $273.64 million for the quarter, compared to analyst estimates of $275.38 million. As a group, sell-side analysts predict that Bumble Inc. will post 0.66 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.56% of the company’s stock.

Institutional Trading of Bumble

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC boosted its holdings in Bumble by 98.6% in the fourth 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 during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Bumble by 50.2% in the third quarter. Public Employees Retirement System of Ohio now owns 1,633 shares of the company’s stock valued at $35,000 after acquiring an additional 546 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Bumble during the second quarter worth about $35,000. Nomura Asset Management Co. Ltd. bought a new position in Bumble during the first quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC bought a new position in Bumble during the third quarter worth about $45,000. 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.