Intech Investment Management LLC Invests $203,000 in Bumble Inc. (NASDAQ:BMBL)

Intech Investment Management LLC bought a new stake in Bumble Inc. (NASDAQ:BMBL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,841 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMBL. Point72 Asset Management L.P. acquired a new stake in shares of Bumble during the second quarter worth about $24,121,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after buying an additional 297,057 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after buying an additional 206,215 shares during the last quarter. AXA S.A. grew its holdings in Bumble by 1,589.8% during the second quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after acquiring an additional 179,757 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Bumble during the second quarter valued at approximately $1,716,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BMBL shares. Stifel Nicolaus increased their price target on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. HSBC reissued a “hold” rating on shares of Bumble in a research note on Friday, August 9th. Citigroup lifted their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. TD Cowen downgraded Bumble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $7.50 in a research report on Friday, August 16th. Finally, Susquehanna boosted their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Bumble presently has an average rating of “Hold” and an average price target of $8.38.

Bumble Trading Up 0.2 %

Shares of Bumble stock opened at $8.25 on Friday. Bumble Inc. has a 1-year low of $4.80 and a 1-year high of $15.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market cap of $892.50 million, a P/E ratio of -1.69 and a beta of 1.71. The stock’s 50 day simple moving average is $7.53 and its 200-day simple moving average is $8.29.

Bumble 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.