Entropy Technologies LP Purchases Shares of 29,342 Bumble Inc. (NASDAQ:BMBL)

Entropy Technologies LP acquired a new position in shares of Bumble Inc. (NASDAQ:BMBL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,342 shares of the company’s stock, valued at approximately $187,000.

Several other hedge funds also recently modified their holdings of BMBL. Innealta Capital LLC acquired a new stake in Bumble in the second quarter worth $64,000. SG Americas Securities LLC acquired a new stake in shares of Bumble in the 3rd quarter valued at about $71,000. Capital Management Associates Inc bought a new stake in Bumble in the 3rd quarter valued at about $74,000. Meeder Asset Management Inc. acquired a new position in Bumble during the 2nd quarter worth approximately $82,000. Finally, Headlands Technologies LLC bought a new position in Bumble in the second quarter worth approximately $94,000. Institutional investors own 94.85% of the company’s stock.

Bumble Stock Down 4.4 %

BMBL opened at $7.87 on Monday. Bumble Inc. has a twelve month low of $4.80 and a twelve month high of $15.90. The company’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $8.52. The stock has a market cap of $851.38 million, a price-to-earnings ratio of -1.61 and a beta of 1.62. The company has a quick ratio of 2.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Analyst Ratings Changes

Several equities research analysts have recently commented on BMBL shares. Morgan Stanley decreased their price objective on Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Susquehanna upped their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Evercore ISI downgraded shares of Bumble from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Thursday, August 8th. Finally, BTIG Research cut shares of Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bumble presently has an average rating of “Hold” and a consensus price target of $8.38.

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.