Bumble (NASDAQ:BMBL) Stock Price Down 9.2% Following Analyst Downgrade

Bumble Inc. (NASDAQ:BMBL) was down 9.2% during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $11.00 to $8.00. KeyCorp currently has an overweight rating on the stock. Bumble traded as low as $5.41 and last traded at $5.43. Approximately 563,206 shares changed hands during trading, a decline of 82% from the average daily volume of 3,133,279 shares. The stock had previously closed at $5.98.

BMBL has been the subject of several other research reports. Morgan Stanley decreased their target price on Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Wolfe Research assumed coverage on shares of Bumble in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $14.00 price objective on the stock. Royal Bank of Canada cut their target price on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HSBC restated a “hold” rating on shares of Bumble in a research report on Friday, August 9th. Finally, Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and cut their price objective for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Bumble currently has a consensus rating of “Hold” and a consensus price target of $9.74.

Insider Activity

In other Bumble news, Director Ann Mather sold 7,492 shares of the 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 transaction, the director now directly owns 29,030 shares in the company, valued at $331,232.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Bumble during the fourth quarter worth $16,112,000. Dimensional Fund Advisors LP increased its position in Bumble by 39.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after acquiring an additional 1,013,374 shares in the last quarter. Boston Partners acquired a new stake in Bumble in the 4th quarter valued at about $10,678,000. Vanguard Group Inc. raised its stake in shares of Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the last quarter. Finally, Archon Capital Management LLC acquired a new position in shares of Bumble during the first quarter worth approximately $6,370,000. 94.85% of the stock is owned by institutional investors.

Bumble Price Performance

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 capitalization of $754.67 million, a P/E ratio of 35.18 and a beta of 1.70. The company’s 50 day moving average price is $9.42 and its 200 day moving average price is $10.82.

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