Intech Investment Management LLC Boosts Stock Position in Bumble Inc. (NASDAQ:BMBL)

Intech Investment Management LLC grew its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,532 shares of the company’s stock after buying an additional 9,691 shares during the quarter. Intech Investment Management LLC’s holdings in Bumble were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in Bumble during the 4th quarter valued at $56,000. D.A. Davidson & CO. acquired a new position in Bumble in the third quarter worth about $77,000. Quantinno Capital Management LP bought a new stake in Bumble in the third quarter valued at about $90,000. Corient Private Wealth LLC acquired a new stake in Bumble during the fourth quarter valued at approximately $97,000. Finally, Olympiad Research LP bought a new position in Bumble during the 4th quarter worth approximately $129,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Wall Street Analyst Weigh In

BMBL has been the topic of several research reports. Evercore ISI dropped their price target on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Citigroup lowered their price objective on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Susquehanna cut their target price on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Morgan Stanley dropped their price target on Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Bumble presently has an average rating of “Hold” and an average price target of $7.25.

Bumble Trading Down 1.7 %

Shares of Bumble stock opened at $4.71 on Wednesday. The business has a fifty day simple moving average of $6.53 and a 200-day simple moving average of $7.15. Bumble Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $12.49. The firm has a market cap of $497.12 million, a price-to-earnings ratio of -0.96 and a beta of 1.77. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

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.