Bank of New York Mellon Corp Decreases Stake in Bumble Inc. (NASDAQ:BMBL)

Bank of New York Mellon Corp decreased its position in Bumble Inc. (NASDAQ:BMBL) by 4.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 278,511 shares of the company’s stock after selling 11,709 shares during the period. Bank of New York Mellon Corp’s holdings in Bumble were worth $2,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Bumble by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after acquiring an additional 14,889 shares during the period. Westbourne Investment Advisors Inc. raised its holdings in Bumble by 18.4% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company’s stock valued at $3,960,000 after acquiring an additional 75,635 shares during the period. Victory Capital Management Inc. raised its holdings in Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after acquiring an additional 206,215 shares during the period. Prentice Capital Management LP raised its holdings in Bumble by 54.1% during the 3rd quarter. Prentice Capital Management LP now owns 242,844 shares of the company’s stock valued at $1,549,000 after acquiring an additional 85,304 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Bumble by 9.3% during the 3rd quarter. Janus Henderson Group PLC now owns 174,926 shares of the company’s stock valued at $1,116,000 after acquiring an additional 14,887 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Down 1.9 %

BMBL stock opened at $4.53 on Friday. The firm’s fifty day simple moving average is $6.64 and its 200-day simple moving average is $7.18. The company has a market capitalization of $478.12 million, a P/E ratio of -0.93 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble Inc. has a 12 month low of $4.46 and a 12 month high of $12.49.

Analysts Set New Price Targets

A number of research analysts have recently commented on BMBL shares. Royal Bank of Canada reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group reduced their price target on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Morgan Stanley reduced their price target on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, Evercore ISI reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.25.

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.