Bumble (NASDAQ:BMBL) Stock Rating Lowered by Hsbc Global Res

Hsbc Global Res downgraded shares of Bumble (NASDAQ:BMBL) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. KeyCorp lowered their price target on shares of Bumble from $16.00 to $11.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Piper Sandler cut their price target on Bumble from $13.00 to $7.00 and set a neutral rating for the company in a research note on Thursday. BTIG Research lowered Bumble from a buy rating to a neutral rating in a report on Thursday. JPMorgan Chase & Co. lowered shares of Bumble from an overweight rating to a neutral rating and cut their target price for the stock from $17.00 to $7.00 in a research report on Thursday. Finally, Evercore ISI cut shares of Bumble from an outperform rating to an inline rating and dropped their price target for the company from $18.00 to $8.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bumble has a consensus rating of Hold and a consensus target price of $9.91.

Bumble Stock Performance

Shares of Bumble stock opened at $5.98 on Friday. The firm has a market capitalization of $754.67 million, a P/E ratio of 35.18 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $10.94. Bumble has a 12 month low of $4.80 and a 12 month high of $17.31.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, analysts anticipate that Bumble will post 0.9 EPS for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 7,492 shares of Bumble 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 completion of the sale, the director now owns 29,030 shares in the company, valued at approximately $331,232.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bumble

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Bumble by 17.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,355 shares of the company’s stock worth $1,700,000 after acquiring an additional 16,869 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Bumble by 16.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock worth $10,076,000 after purchasing an additional 97,948 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Bumble by 24.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock worth $227,000 after purchasing an additional 3,000 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Bumble by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 151,449 shares of the company’s stock valued at $2,232,000 after purchasing an additional 8,097 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after buying an additional 1,092 shares in the last quarter. 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.