Bumble Inc. (NASDAQ:BMBL) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in Bumble Inc. (NASDAQ:BMBL) by 13.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 707,335 shares of the company’s stock after purchasing an additional 83,397 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bumble were worth $7,434,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Headlands Technologies LLC raised its stake in Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,092 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Bumble by 73.7% in 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 last quarter. Neo Ivy Capital Management purchased a new position in Bumble in the 4th quarter worth $162,000. FourWorld Capital Management LLC purchased a new position in Bumble in the 1st quarter worth $165,000. Finally, Entropy Technologies LP purchased a new position in Bumble in the 1st quarter worth $175,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMBL. Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. KeyCorp reduced their price objective on Bumble from $11.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley reduced their price objective 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. Evercore ISI lowered Bumble from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $18.00 to $8.00 in a research note on Thursday, August 8th. Finally, Citigroup lowered Bumble from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $6.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bumble has an average rating of “Hold” and a consensus target price of $9.62.

Bumble Trading Up 1.8 %

BMBL stock opened at $6.71 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble Inc. has a 12-month low of $4.80 and a 12-month high of $17.31. The stock has a market cap of $846.80 million, a price-to-earnings ratio of 39.47 and a beta of 1.70. The business’s 50-day moving average is $8.29 and its 200 day moving average is $10.21.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, sell-side analysts anticipate that Bumble Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at Bumble

In related news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $11.41, for a total value of $85,483.72. Following the transaction, the director now directly owns 29,030 shares in the company, valued at $331,232.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.84% of the stock is currently owned by insiders.

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.