MQS Management LLC Invests $201,000 in Bumble Inc. (NASDAQ:BMBL)

MQS Management LLC bought a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,163 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMBL. Vanguard Group Inc. lifted its holdings in shares of Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Bumble during the 1st quarter worth about $937,000. Duality Advisers LP purchased a new position in Bumble during the 1st quarter valued at about $1,049,000. Goldman Sachs Group Inc. grew its position in Bumble by 12.5% in the 4th 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. Finally, Picton Mahoney Asset Management purchased a new stake in Bumble during the first quarter worth about $1,378,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Analyst Ratings Changes

BMBL has been the subject of a number of research reports. TD Cowen cut shares of Bumble from a “buy” rating to a “hold” rating and dropped their price objective for the company from $22.00 to $7.50 in a report on Friday, August 16th. The Goldman Sachs Group lowered their price objective on Bumble from $18.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Hsbc Global Res cut shares of Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. BTIG Research downgraded shares of Bumble from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus downgraded shares of Bumble from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $6.50 in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Bumble presently has a consensus rating of “Hold” and an average target price of $9.62.

Bumble Stock Performance

Shares of BMBL opened at $6.09 on Friday. The company’s 50 day simple moving average is $7.30 and its 200-day simple moving average is $9.55. The firm has a market cap of $768.55 million, a PE ratio of 35.82 and a beta of 1.66. Bumble Inc. has a 12-month low of $4.80 and a 12-month high of $15.90. The company has a current ratio of 2.38, a quick 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. As a group, equities analysts predict that Bumble Inc. will post 0.83 EPS for the current year.

Bumble Company 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.