Bumble (NASDAQ:BMBL) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Bumble (NASDAQ:BMBL) in a research report report published on Thursday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $13.00 price objective on the stock.

Several other brokerages have also weighed in on BMBL. Royal Bank of Canada reaffirmed an outperform rating and set a $16.00 target price on shares of Bumble in a research note on Wednesday, February 28th. BTIG Research decreased their target price on Bumble from $20.00 to $15.00 and set a buy rating for the company in a report on Wednesday, February 28th. Raymond James reiterated a market perform rating on shares of Bumble in a research note on Thursday, April 4th. JPMorgan Chase & Co. dropped their price objective 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. Finally, KeyCorp decreased their price objective on shares of Bumble from $20.00 to $18.00 and set an overweight rating for the company in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Bumble has an average rating of Moderate Buy and an average price target of $16.91.

Bumble Stock Down 0.6 %

Shares of NASDAQ BMBL opened at $10.18 on Thursday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $11.45 and a 200 day moving average of $13.18. The stock has a market cap of $1.32 billion, a PE ratio of -339.33, a P/E/G ratio of 0.28 and a beta of 1.68. Bumble has a 12-month low of $9.94 and a 12-month high of $21.06.

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

Insider Activity at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bumble

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Bumble by 43.2% in the 1st quarter. BlackRock Inc. now owns 9,106,511 shares of the company’s stock valued at $178,032,000 after purchasing an additional 2,747,104 shares during the last quarter. State Street Corp boosted its stake in shares of Bumble by 305.3% during the second quarter. State Street Corp now owns 1,745,907 shares of the company’s stock worth $49,147,000 after buying an additional 1,315,091 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Bumble by 453.0% during the first quarter. Balyasny Asset Management L.P. now owns 1,508,003 shares of the company’s stock worth $29,481,000 after buying an additional 1,235,305 shares during the last quarter. Norges Bank acquired a new position in Bumble in the 4th quarter valued at about $16,112,000. Finally, Dimensional Fund Advisors LP raised its stake in Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after acquiring an additional 1,013,374 shares during the last quarter. 94.85% of the stock is 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.