Victory Capital Management Inc. Sells 167,190 Shares of Bumble Inc. (NASDAQ:BMBL)

Victory Capital Management Inc. decreased its holdings in Bumble Inc. (NASDAQ:BMBL) by 66.9% during the 4th quarter, HoldingsChannel reports. The firm owned 82,835 shares of the company’s stock after selling 167,190 shares during the quarter. Victory Capital Management Inc.’s holdings in Bumble were worth $674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BMBL. FNY Investment Advisers LLC bought a new position in shares of Bumble in the 4th quarter valued at $56,000. D.A. Davidson & CO. acquired a new stake in shares of Bumble during the 3rd quarter valued at $77,000. Quantinno Capital Management LP acquired a new stake in shares of Bumble during the 3rd quarter valued at $90,000. Olympiad Research LP acquired a new stake in shares of Bumble during the 4th quarter valued at $129,000. Finally, Empowered Funds LLC acquired a new stake in shares of Bumble during the 4th quarter valued at $187,000. Institutional investors own 94.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company cut their price objective on Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Susquehanna cut their price objective on Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Citigroup cut their price objective on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus cut their target price on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.25.

Bumble Stock Down 1.9 %

Shares of NASDAQ:BMBL opened at $4.53 on Friday. The company has a market capitalization of $478.12 million, a price-to-earnings 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. The business’s 50-day moving average is $6.64 and its 200-day moving average is $7.18. Bumble Inc. has a 1 year low of $4.46 and a 1 year high of $12.49.

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.