28,400 Shares in Bumble Inc. (NASDAQ:BMBL) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,400 shares of the company’s stock, valued at approximately $181,000.

A number of other large investors have also recently made changes to their positions in BMBL. Principal Financial Group Inc. purchased a new position in Bumble in the third quarter valued at $911,000. QRG Capital Management Inc. purchased a new position in Bumble in the third quarter worth approximately $246,000. Westbourne Investment Advisors Inc. lifted its holdings in shares of Bumble by 17.1% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company’s stock worth $2,621,000 after acquiring an additional 59,970 shares during the last quarter. Capital Management Associates Inc acquired a new stake in shares of Bumble in the third quarter valued at $74,000. Finally, nVerses Capital LLC increased its stake in Bumble by 47.9% during the 3rd quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock worth $114,000 after buying an additional 5,800 shares during the period. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Up 0.9 %

Shares of NASDAQ:BMBL opened at $7.94 on Tuesday. The stock has a 50-day simple moving average of $6.96 and a 200-day simple moving average of $8.50. The stock has a market capitalization of $858.95 million, a P/E ratio of -1.62 and a beta of 1.62. Bumble Inc. has a 1 year low of $4.80 and a 1 year high of $15.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.38 and a current ratio of 2.09.

Wall Street Analyst Weigh In

BMBL has been the subject of several research analyst reports. TD Cowen downgraded shares of Bumble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $7.50 in a research note on Friday, August 16th. BTIG Research downgraded Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Bank of America lowered Bumble from a “buy” rating to an “underperform” rating and reduced their target price for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. Evercore ISI cut Bumble from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $18.00 to $8.00 in a research report on Thursday, August 8th. Finally, Susquehanna upped their target price on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.38.

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.