Hsbc Global Res Lowers Bumble (NASDAQ:BMBL) to Hold

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

A number of other brokerages have also recently weighed in on BMBL. JPMorgan Chase & Co. cut shares of Bumble from an overweight rating to a neutral rating and reduced their target price for the stock from $17.00 to $7.00 in a report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Bumble from $10.00 to $7.00 and set an equal weight rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on Bumble from $18.00 to $9.00 and set a buy rating on the stock in a research report on Friday. Stifel Nicolaus downgraded Bumble from a buy rating to a hold rating and reduced their target price for the company from $13.00 to $6.50 in a report on Thursday, August 8th. Finally, HSBC reissued 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. Based on data from MarketBeat.com, Bumble currently has a consensus rating of Hold and an average target price of $9.91.

Bumble Stock Down 3.9 %

BMBL opened at $5.75 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market capitalization of $725.01 million, a PE ratio of 33.79 and a beta of 1.70. The stock’s fifty day moving average is $9.53 and its 200-day moving average is $10.88. Bumble has a one year low of $4.80 and a one year high of $17.31.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $273.04 million. During the same period in the previous year, the business earned $0.05 earnings per share. Bumble’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Bumble will post 0.9 EPS for the current fiscal year.

Insider Transactions at Bumble

In related news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction on 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 of the company’s stock, valued at $331,232.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.84% of the stock is currently owned by company insiders.

Institutional Trading of Bumble

A number of institutional investors have recently added to or reduced their stakes in BMBL. Vanguard Group Inc. raised its holdings in shares of Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after purchasing an additional 613,759 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bumble by 39.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after buying an additional 1,013,374 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Bumble by 12.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after acquiring an additional 397,741 shares in the last quarter. Granahan Investment Management LLC increased its holdings in shares of Bumble by 9.0% during the 4th quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock valued at $20,176,000 after acquiring an additional 113,277 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Bumble by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,185,850 shares of the company’s stock valued at $17,479,000 after acquiring an additional 6,891 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.