Bumble (NASDAQ:BMBL) Hits New 12-Month Low at $9.83

Bumble Inc. (NASDAQ:BMBL) shares reached a new 52-week low on Wednesday . The company traded as low as $9.83 and last traded at $10.13, with a volume of 554209 shares traded. The stock had previously closed at $10.30.

Analysts Set New Price Targets

A number of research firms have weighed in on BMBL. Raymond James reissued a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Morgan Stanley started coverage on Bumble in a report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price target on the stock. BTIG Research dropped their price objective on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (down from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price target on shares of Bumble in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bumble has an average rating of “Moderate Buy” and an average price target of $16.52.

Bumble Stock Performance

The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.34 billion, a PE ratio of -343.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. The firm has a 50-day moving average price of $10.78 and a 200 day moving average price of $12.89.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). The business had revenue of $273.64 million for the quarter, compared to analysts’ expectations of $275.38 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. Research analysts expect that Bumble Inc. will post 0.66 earnings per share for the current year.

Insiders Place Their Bets

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in shares of Bumble by 98.6% during the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,092 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Bumble during the 3rd quarter worth about $45,000. FNY Investment Advisers LLC purchased a new position in shares of Bumble in the 4th quarter valued at about $68,000. Campbell & CO Investment Adviser LLC purchased a new stake in Bumble during the third quarter worth approximately $161,000. Finally, Neo Ivy Capital Management acquired a new position in Bumble in the fourth quarter valued at approximately $162,000. Institutional investors and hedge funds 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.