Ameriprise Financial Inc. Boosts Holdings in Bumble Inc. (NASDAQ:BMBL)

Ameriprise Financial Inc. boosted its position in shares of Bumble Inc. (NASDAQ:BMBL) by 25.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,382,478 shares of the company’s stock after purchasing an additional 1,298,630 shares during the quarter. Ameriprise Financial Inc. owned about 0.06% of Bumble worth $51,953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after acquiring an additional 2,760 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Bumble in the 4th quarter worth $56,000. SG Americas Securities LLC raised its stake in shares of Bumble by 189.2% in the fourth quarter. SG Americas Securities LLC now owns 32,107 shares of the company’s stock worth $261,000 after purchasing an additional 21,006 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Bumble during the fourth quarter valued at $214,000. Finally, Westbourne Investment Advisors Inc. boosted its position in shares of Bumble by 18.4% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company’s stock valued at $3,960,000 after buying an additional 75,635 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMBL has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on Bumble from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday. The Goldman Sachs Group raised their target price on shares of Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI decreased their target price on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their price target on Bumble from $6.00 to $4.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on Bumble from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bumble currently has a consensus rating of “Hold” and a consensus target price of $6.75.

Bumble Price Performance

NASDAQ BMBL opened at $5.69 on Friday. The stock has a market cap of $600.56 million, a price-to-earnings ratio of -1.16 and a beta of 1.76. Bumble Inc. has a 12 month low of $3.55 and a 12 month high of $12.49. The company’s 50 day moving average is $4.46 and its two-hundred day moving average is $6.60. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The firm had revenue of $247.10 million for the quarter, compared to analysts’ expectations of $246.68 million. Bumble had a negative net margin of 54.19% and a positive return on equity of 3.31%. During the same quarter last year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Bumble Inc. will post 4.19 earnings per share for the current year.

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.