Quantinno Capital Management LP Acquires New Stake in Bumble Inc. (NASDAQ:BMBL)

Quantinno Capital Management LP bought a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,037 shares of the company’s stock, valued at approximately $90,000.

A number of other large investors have also modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in shares of Bumble in the second quarter valued at about $24,121,000. The Manufacturers Life Insurance Company grew its stake 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. increased its holdings in shares of Bumble by 470.7% during the 3rd 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. increased its holdings in shares of Bumble by 1,589.8% during the 2nd quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after buying an additional 179,757 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Bumble during the 2nd quarter valued at approximately $1,716,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Down 1.9 %

Shares of Bumble stock opened at $8.27 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $15.46. The company has a market capitalization of $894.67 million, a P/E ratio of -1.69 and a beta of 1.71. The company has a 50 day moving average of $7.84 and a 200 day moving average of $8.06.

Analyst Ratings Changes

BMBL has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Susquehanna boosted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Stifel Nicolaus lifted their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Finally, Piper Sandler restated a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.38.

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.