Susquehanna Portfolio Strategies LLC Has $2.05 Million Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Susquehanna Portfolio Strategies LLC trimmed its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,162 shares of the company’s stock after selling 16,800 shares during the period. Susquehanna Portfolio Strategies LLC owned approximately 0.15% of Bumble worth $2,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BMBL. Susquehanna Fundamental Investments LLC acquired a new position in Bumble in the 2nd quarter valued at approximately $1,716,000. Mackenzie Financial Corp purchased a new position in shares of Bumble during the 2nd quarter valued at $333,000. The Manufacturers Life Insurance Company increased its stake in shares of Bumble by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after acquiring an additional 297,057 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Bumble in the second quarter worth $823,000. Finally, AXA S.A. raised its holdings in shares of Bumble by 1,589.8% during the second quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after acquiring an additional 179,757 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Performance

BMBL opened at $6.43 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $7.00 and its two-hundred day moving average price is $9.38. The firm has a market capitalization of $813.65 million, a P/E ratio of 37.82 and a beta of 1.66. Bumble Inc. has a 12-month low of $4.80 and a 12-month high of $15.90.

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

Analyst Ratings Changes

Several brokerages have weighed in on BMBL. Morgan Stanley dropped their target price on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. HSBC restated a “hold” rating on shares of Bumble in a report on Friday, August 9th. KeyCorp cut shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday. Piper Sandler dropped their price target on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Bumble presently has a consensus rating of “Hold” and an average price target of $9.03.

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.