Bumble (NASDAQ:BMBL) Shares Up 5.6% – Here’s Why

Bumble Inc. (NASDAQ:BMBL)’s stock price was up 5.6% during mid-day trading on Friday . The company traded as high as $4.99 and last traded at $4.99. Approximately 881,083 shares changed hands during trading, a decline of 71% from the average daily volume of 2,999,312 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BMBL shares. Citigroup lowered their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company lowered their target price on Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada lowered their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley lifted their price target on Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.52.

Bumble Price Performance

The stock has a market capitalization of $549.56 million, a price-to-earnings ratio of -1.04 and a beta of 1.77. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $7.28 and a 200 day simple moving average of $7.31.

Institutional Investors Weigh In On Bumble

Institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new stake in Bumble during the 4th quarter worth about $56,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Bumble during the 3rd quarter valued at about $77,000. Quantinno Capital Management LP acquired a new stake in shares of Bumble during the 3rd quarter valued at about $90,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after buying an additional 4,000 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.