Bumble (NASDAQ:BMBL) Cut to Neutral at BTIG Research

BTIG Research downgraded shares of Bumble (NASDAQ:BMBL) from a buy rating to a neutral rating in a report issued on Thursday, Marketbeat Ratings reports.

A number of other equities analysts also recently commented on BMBL. Citigroup dropped their target price on shares of Bumble from $14.00 to $12.00 and set a buy rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. downgraded shares of Bumble from an overweight rating to a neutral rating and dropped their target price for the stock from $17.00 to $7.00 in a research note on Thursday. Evercore ISI downgraded shares of Bumble from an outperform rating to an inline rating and dropped their target price for the stock from $18.00 to $8.00 in a research note on Thursday. Wells Fargo & Company downgraded shares of Bumble from an overweight rating to an equal weight rating and dropped their price objective for the company from $15.00 to $10.00 in a research note on Monday, July 8th. Finally, Wolfe Research started coverage on shares of Bumble in a research note on Tuesday, July 16th. They set an outperform rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $9.91.

Bumble Stock Performance

Shares of NASDAQ:BMBL opened at $5.98 on Thursday. The company has a market capitalization of $754.67 million, a price-to-earnings ratio of 35.18 and a beta of 1.70. Bumble has a 12 month low of $4.80 and a 12 month high of $17.31. The firm’s 50-day moving average is $9.66 and its 200 day moving average is $10.94. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46.

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

Insiders Place Their Bets

In other Bumble news, Director Ann Mather sold 7,492 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now owns 29,030 shares of the company’s stock, valued at $331,232.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BMBL. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 buying an additional 16,869 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Bumble by 16.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock worth $10,076,000 after buying an additional 97,948 shares during the last quarter. Handelsbanken Fonder AB grew its position in Bumble by 24.2% during the fourth quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock valued at $227,000 after buying an additional 3,000 shares during the period. New York State Common Retirement Fund increased its stake in shares of Bumble by 5.6% in 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 in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,092 shares during the period. Hedge funds and other 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.