Bumble Inc. (NASDAQ:BMBL) Stock Position Increased by Westbourne Investment Advisors Inc.

Westbourne Investment Advisors Inc. increased its stake in Bumble Inc. (NASDAQ:BMBL) by 18.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 486,446 shares of the company’s stock after buying an additional 75,635 shares during the period. Bumble makes up approximately 1.4% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 28th biggest position. Westbourne Investment Advisors Inc.’s holdings in Bumble were worth $3,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in shares of Bumble in the third quarter valued at $911,000. Victory Capital Management Inc. raised its position in shares of Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after buying an additional 2,760 shares during the period. Franklin Resources Inc. raised its stake in shares of Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after purchasing an additional 6,325 shares during the period. Finally, Creative Planning lifted its stake in Bumble by 437.5% in the 3rd quarter. Creative Planning now owns 54,055 shares of the company’s stock valued at $345,000 after acquiring an additional 43,998 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

Bumble stock opened at $8.49 on Friday. Bumble Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market cap of $918.45 million, a P/E ratio of -1.74 and a beta of 1.70. The firm’s fifty day moving average price is $8.06 and its 200-day moving average price is $7.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Susquehanna lifted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price target on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Stifel Nicolaus boosted their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Finally, Citigroup boosted their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.50.

Bumble 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.