Bumble Inc. (NASDAQ:BMBL – Get Free Report)’s stock price traded down 9.2% on Monday after Hsbc Global Res downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $5.41 and last traded at $5.43. 563,206 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,133,279 shares. The stock had previously closed at $5.98.
Several other equities analysts have also commented on BMBL. Susquehanna lowered shares of Bumble from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $6.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday. Bank of America downgraded shares of Bumble from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $12.00 to $5.50 in a report on Thursday. Piper Sandler lowered their price objective on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, HSBC reiterated a “hold” rating on shares of Bumble in a research note on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.91.
Insider Activity
In related news, Director Ann Mather sold 7,492 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the sale, the director now owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.84% of the company’s stock.
Hedge Funds Weigh In On Bumble
Several institutional investors have recently modified their holdings of BMBL. Hsbc Holdings PLC boosted its position in shares of Bumble by 41.8% during the second quarter. Hsbc Holdings PLC now owns 60,678 shares of the company’s stock valued at $631,000 after purchasing an additional 17,888 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in Bumble during the second quarter valued at about $203,000. Meeder Asset Management Inc. bought a new position in shares of Bumble during the second quarter worth $82,000. Headlands Technologies LLC purchased a new stake in Bumble during the second quarter valued at $94,000. Finally, Quest Partners LLC raised its stake in Bumble by 46.3% during the second quarter. Quest Partners LLC now owns 52,453 shares of the company’s stock valued at $551,000 after purchasing an additional 16,592 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors.
Bumble Price Performance
The stock’s 50-day simple moving average is $9.66 and its two-hundred day simple moving average is $10.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market cap of $725.01 million, a P/E ratio of 32.00 and a beta of 1.70.
Bumble (NASDAQ:BMBL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. During the same period last year, the firm posted $0.05 EPS. Bumble’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Bumble Inc. will post 0.9 earnings per share for the current fiscal year.
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.