Proficio Capital Partners LLC Invests $189,000 in Bumble Inc. (NASDAQ:BMBL)

Proficio Capital Partners LLC purchased a new stake in Bumble Inc. (NASDAQ:BMBL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,158 shares of the company’s stock, valued at approximately $189,000.

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

Bumble Price Performance

Shares of NASDAQ BMBL opened at $4.52 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $7.12. Bumble Inc. has a 1-year low of $4.46 and a 1-year high of $12.49. The firm has a market cap of $477.07 million, a price-to-earnings ratio of -0.92 and a beta of 1.77.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMBL. Citigroup cut their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company cut their price target on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price objective on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 17th. One 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.