Dark Forest Capital Management LP Takes $823,000 Position in Bumble Inc. (NASDAQ:BMBL)

Dark Forest Capital Management LP purchased a new position in Bumble Inc. (NASDAQ:BMBL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 78,296 shares of the company’s stock, valued at approximately $823,000.

Several other institutional investors also recently bought and sold shares of BMBL. Innealta Capital LLC purchased a new stake in Bumble during the 2nd quarter valued at $64,000. Meeder Asset Management Inc. bought a new stake in Bumble in the 2nd quarter worth about $82,000. Headlands Technologies LLC purchased a new position in Bumble in the 2nd quarter worth about $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bumble in the 2nd quarter worth about $111,000. Finally, nVerses Capital LLC lifted its stake in Bumble by 128.3% during the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $127,000 after acquiring an additional 6,800 shares during the period. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Trading Up 1.9 %

Shares of BMBL stock opened at $6.44 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $9.42. The firm has a market capitalization of $814.92 million, a PE ratio of 37.88 and a beta of 1.66. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.90.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Bumble Inc. will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMBL has been the subject of several research reports. JPMorgan Chase & Co. cut shares of Bumble from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $7.00 in a report on Thursday, August 8th. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and decreased their target price for the company from $18.00 to $8.00 in a research note on Thursday, August 8th. The Goldman Sachs Group dropped their price target on Bumble from $18.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup lowered Bumble from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $12.00 to $6.00 in a report on Thursday, August 8th. Finally, Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bumble has a consensus rating of “Hold” and an average price target of $9.03.

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.