Point72 DIFC Ltd Cuts Stake in Bumble Inc. (NASDAQ:BMBL)

Point72 DIFC Ltd lessened its holdings in Bumble Inc. (NASDAQ:BMBL) by 69.0% during the second quarter, Holdings Channel.com reports. The firm owned 15,738 shares of the company’s stock after selling 35,037 shares during the quarter. Point72 DIFC Ltd’s holdings in Bumble were worth $165,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Bumble in the second quarter worth about $64,000. Meeder Asset Management Inc. purchased a new position in Bumble in the 2nd quarter worth approximately $82,000. Headlands Technologies LLC bought a new stake in Bumble in the second quarter valued at approximately $94,000. Neo Ivy Capital Management purchased a new stake in shares of Bumble during the fourth quarter valued at approximately $162,000. Finally, nVerses Capital LLC grew its holdings in shares of Bumble by 128.3% in the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after purchasing an additional 6,800 shares during the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Performance

Shares of Bumble stock opened at $6.43 on Friday. The business has a fifty day simple moving average of $7.00 and a two-hundred day simple moving average of $9.39. The firm has a market capitalization of $813.65 million, a P/E ratio of 37.82 and a beta of 1.66. 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 Inc. has a 12 month low of $4.80 and a 12 month high of $15.90.

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

Wall Street Analyst Weigh In

BMBL has been the subject of several analyst reports. Royal Bank of Canada dropped their price target on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Evercore ISI cut Bumble from an “outperform” rating to an “inline” rating and cut their target price for the stock from $18.00 to $8.00 in a research note on Thursday, August 8th. TD Cowen downgraded Bumble from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $7.50 in a report on Friday, August 16th. Wolfe Research began coverage on Bumble in a report on Tuesday, July 16th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.