AQR Capital Management LLC Sells 8,183 Shares of Bumble Inc. (NASDAQ:BMBL)

AQR Capital Management LLC reduced its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,818 shares of the company’s stock after selling 8,183 shares during the period. AQR Capital Management LLC’s holdings in Bumble were worth $608,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Bumble during the fourth quarter valued at $215,000. Goldman Sachs Group Inc. increased its holdings in shares of Bumble by 12.5% during the fourth 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 in the last quarter. Vanguard Group Inc. increased its holdings in Bumble by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock worth $150,478,000 after buying an additional 495,671 shares in the last quarter. Moody National Bank Trust Division increased its holdings in Bumble by 7.8% in the 1st quarter. Moody National Bank Trust Division now owns 67,894 shares of the company’s stock worth $771,000 after buying an additional 4,887 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in Bumble by 85.0% in the first quarter. 180 Wealth Advisors LLC now owns 42,126 shares of the company’s stock worth $478,000 after purchasing an additional 19,350 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

Shares of BMBL stock opened at $6.81 on Monday. The stock has a market capitalization of $861.74 million, a PE ratio of 20.03 and a beta of 1.66. The firm has a 50 day moving average of $6.49 and a two-hundred day moving average of $9.06. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.90. 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 data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. During the same period in the previous year, the business posted $0.05 earnings per share. Bumble’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts predict that Bumble Inc. will post 0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMBL. Susquehanna downgraded Bumble from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $6.00 in a research note on Friday, August 9th. Evercore ISI downgraded Bumble from an “outperform” rating to an “inline” rating and cut their target price for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. Bank of America downgraded Bumble from a “buy” rating to an “underperform” rating and cut their target price for the company from $12.00 to $5.50 in a research report on Thursday, August 8th. The Goldman Sachs Group cut their target price on Bumble from $18.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, BTIG Research downgraded Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.50.

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.