Bumble (NASDAQ:BMBL) Downgraded by TD Cowen to Hold

TD Cowen downgraded shares of Bumble (NASDAQ:BMBL) from a buy rating to a hold rating in a research report report published on Friday, Marketbeat.com reports. The brokerage currently has $7.50 price objective on the stock, down from their previous price objective of $22.00.

Several other brokerages have also commented on BMBL. Bank of America lowered Bumble from a buy rating to an underperform rating and cut their price objective for the stock from $12.00 to $5.50 in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bumble from $11.00 to $7.00 and set a hold rating on the stock in a report on Thursday, August 8th. Hsbc Global Res downgraded shares of Bumble from a strong-buy rating to a hold rating in a report on Friday, August 9th. Wells Fargo & Company reduced their target price on Bumble from $10.00 to $7.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price target on Bumble from $18.00 to $9.00 and set a buy rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $9.62.

Bumble Stock Up 1.7 %

Shares of NASDAQ:BMBL opened at $6.00 on Friday. The firm has a fifty day moving average price of $9.08 and a two-hundred day moving average price of $10.65. The company has a market cap of $757.19 million, a price-to-earnings ratio of 35.29 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. 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 data on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Bumble will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at Bumble

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 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 SEC, which is available through this hyperlink. 7.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bumble

A number of large investors have recently made changes to their positions in BMBL. Headlands Technologies LLC increased its position in 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 purchasing an additional 1,092 shares during the period. Innealta Capital LLC bought a new stake in Bumble during the 2nd quarter valued at approximately $64,000. EverSource Wealth Advisors LLC grew its holdings in shares of Bumble by 73.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after acquiring an additional 2,210 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Bumble in the 2nd quarter worth approximately $82,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bumble in the 2nd quarter valued at approximately $111,000. 94.85% of the stock is currently owned by institutional investors.

About Bumble

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.