Shares of Bumble Inc. (NASDAQ:BMBL – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $20.00 to $17.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bumble traded as low as $11.72 and last traded at $12.27, with a volume of 1678987 shares trading hands. The stock had previously closed at $13.18.
Other analysts also recently issued research reports about the company. Susquehanna dropped their price target on Bumble from $25.00 to $17.00 and set a “positive” rating on the stock in a research note on Wednesday, November 8th. Raymond James reduced their target price on Bumble from $22.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Bank of America lifted their target price on shares of Bumble from $15.50 to $16.50 and gave the company a “neutral” rating in a research report on Tuesday, December 5th. Morgan Stanley decreased their price target on shares of Bumble from $22.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Finally, The Goldman Sachs Group cut their price objective on Bumble from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.61.
Institutional Trading of Bumble
Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Bumble by 34.9% during the 2nd quarter. Victory Capital Management Inc. now owns 51,399 shares of the company’s stock valued at $862,000 after buying an additional 13,297 shares during the period. Pearl River Capital LLC purchased a new stake in Bumble in the third quarter valued at approximately $753,000. CenterBook Partners LP raised its position in Bumble by 28.1% in the third quarter. CenterBook Partners LP now owns 366,874 shares of the company’s stock valued at $5,474,000 after purchasing an additional 80,532 shares during the period. Barclays PLC raised its position in Bumble by 31.9% in the third quarter. Barclays PLC now owns 82,700 shares of the company’s stock valued at $1,233,000 after purchasing an additional 19,996 shares during the period. Finally, Swiss National Bank increased its position in shares of Bumble by 1.3% during the second quarter. Swiss National Bank now owns 209,400 shares of the company’s stock worth $3,514,000 after acquiring an additional 2,600 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.
Bumble Stock Down 10.3 %
The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $13.96 and a two-hundred day moving average price of $14.48. The firm has a market cap of $1.62 billion, a PE ratio of -17.38 and a beta of 1.78.
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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.