Bumble (NASDAQ:BMBL) Cut to “Neutral” at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. They presently have a $7.00 target price on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 19.45% from the company’s previous close.

BMBL has been the topic of a number of other research reports. Morgan Stanley increased their target price on Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Susquehanna reaffirmed a “neutral” rating and set a $7.00 target price (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. Zacks Research raised Bumble to a “hold” rating in a report on Friday, August 8th. Wells Fargo & Company reissued a “positive” rating on shares of Bumble in a report on Friday, June 27th. Finally, Bank of America raised their price target on Bumble from $5.25 to $5.50 and gave the stock an “underperform” rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $6.46.

Bumble Trading Down 3.0%

NASDAQ:BMBL opened at $5.86 on Friday. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $6.68 and its two-hundred day moving average is $5.83. Bumble has a 52 week low of $3.55 and a 52 week high of $9.22. The company has a market cap of $609.50 million, a PE ratio of -1.20, a P/E/G ratio of 0.84 and a beta of 1.94.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.27. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The company had revenue of $248.23 million for the quarter, compared to the consensus estimate of $243.72 million. During the same quarter last year, the business posted $0.22 EPS. Bumble’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts predict that Bumble will post 4.19 EPS for the current year.

Insider Activity

In other Bumble news, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of Bumble stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder – Nq L.L.C. Btoa sold 16,689,884 shares of Bumble stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Insiders have sold 68,124,652 shares of company stock worth $426,460,322 over the last ninety days. 15.84% of the stock is currently owned by company insiders.

Institutional Trading of Bumble

Several hedge funds have recently added to or reduced their stakes in BMBL. Two Sigma Investments LP bought a new stake in Bumble during the 4th quarter valued at $476,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Bumble by 26.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock valued at $1,887,000 after purchasing an additional 48,207 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Bumble during the 1st quarter valued at $396,000. Hennessy Advisors Inc. acquired a new position in shares of Bumble during the 1st quarter valued at $72,000. Finally, Tyche Wealth Partners LLC acquired a new position in shares of Bumble during the 1st quarter valued at $52,000. Institutional investors own 94.85% of the company’s stock.

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.