Bumble Inc. (NASDAQ:BMBL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 3.5% during the second quarter, Holdings Channel.com reports. The fund owned 371,528 shares of the company’s stock after selling 13,342 shares during the period. Bank of New York Mellon Corp’s holdings in Bumble were worth $3,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after purchasing an additional 613,759 shares during the period. Dimensional Fund Advisors LP grew its stake 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 during the period. Goldman Sachs Group Inc. grew its stake in Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after acquiring an additional 397,741 shares during the period. Granahan Investment Management LLC increased its holdings in Bumble by 9.0% in the 4th quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock worth $20,176,000 after acquiring an additional 113,277 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Bumble by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,185,850 shares of the company’s stock worth $17,479,000 after acquiring an additional 6,891 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Trading Up 3.3 %

BMBL opened at $6.32 on Friday. The stock has a market capitalization of $799.73 million, a PE ratio of 37.18 and a beta of 1.66. Bumble Inc. has a one year low of $4.80 and a one year high of $16.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The business’s 50 day moving average price is $7.62 and its 200 day moving average price is $9.72.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. As a group, equities research analysts expect that Bumble Inc. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMBL. Stifel Nicolaus lowered shares of Bumble from a “buy” rating to a “hold” rating and dropped their target price for the company from $13.00 to $6.50 in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Bank of America cut Bumble from a “buy” rating to an “underperform” rating and reduced their target price for the company from $12.00 to $5.50 in a report on Thursday, August 8th. Wells Fargo & Company lowered their price target 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, Piper Sandler reduced their price objective on Bumble from $13.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One equities research 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.62.

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.