Point72 Asset Management L.P. Sells 925,605 Shares of Bumble Inc. (NASDAQ:BMBL)

Point72 Asset Management L.P. cut its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 78.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,227 shares of the company’s stock after selling 925,605 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.23% of Bumble worth $2,012,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after acquiring an additional 1,249 shares during the period. Franklin Resources Inc. raised its holdings in Bumble by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock valued at $521,000 after acquiring an additional 1,666 shares during the period. Rhumbline Advisers raised its holdings in Bumble by 1.4% during the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,157 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 during the period. Finally, Aigen Investment Management LP raised its holdings in Bumble by 14.2% during the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after acquiring an additional 3,853 shares during the period. 94.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price target on Bumble from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group raised their price objective on Bumble from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Evercore ISI cut their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Piper Sandler cut their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Bumble has an average rating of “Hold” and a consensus price target of $6.71.

Bumble Trading Down 0.9%

BMBL opened at $5.65 on Wednesday. The firm has a market cap of $583.59 million, a P/E 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 $12.30. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $4.60 and a 200 day moving average of $6.54.

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

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.