Federated Hermes Inc. Reduces Position in Bumble Inc. (NASDAQ:BMBL)

Federated Hermes Inc. trimmed its position in Bumble Inc. (NASDAQ:BMBL) by 84.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,157 shares of the company’s stock after selling 34,296 shares during the quarter. Federated Hermes Inc.’s holdings in Bumble were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 613,759 shares during the period. Janney Montgomery Scott LLC purchased a new position in Bumble during the 1st quarter valued at about $937,000. Duality Advisers LP bought a new position in Bumble during the 1st quarter valued at approximately $1,049,000. Goldman Sachs Group Inc. lifted its holdings in Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after buying an additional 397,741 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in shares of Bumble in the 1st quarter worth approximately $1,378,000. 94.85% of the stock is currently owned by institutional investors.

Bumble Trading Up 1.3 %

NASDAQ:BMBL opened at $6.32 on Thursday. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.90. The stock has a market cap of $799.73 million, a price-to-earnings ratio of 37.18 and a beta of 1.66. The company’s 50 day moving average price is $7.10 and its 200-day moving average price is $9.45. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last posted its quarterly 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. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Bumble Inc. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BMBL has been the subject of a number of recent analyst reports. TD Cowen downgraded Bumble from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $7.50 in a report on Friday, August 16th. Hsbc Global Res cut shares of Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. cut shares of Bumble from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $17.00 to $7.00 in a research report on Thursday, August 8th. Piper Sandler lowered their price objective on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research began coverage on Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.