Bumble (NASDAQ:BMBL) Shares Gap Up to $48.89

Shares of Bumble Inc. (NASDAQ:BMBL) gapped up prior to trading on Tuesday . The stock had previously closed at $48.89, but opened at $50.33. Bumble shares last traded at $50.28, with a volume of 1,274 shares trading hands.

A number of research firms have issued reports on BMBL. Royal Bank of Canada began coverage on Bumble in a research note on Friday, July 9th. They issued an “outperform” rating and a $65.00 target price on the stock. Loop Capital raised their target price on Bumble from $45.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, July 13th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Bumble currently has a consensus rating of “Buy” and a consensus target price of $64.50.

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.37 and a quick ratio of 2.37. The firm’s 50-day simple moving average is $52.29 and its 200 day simple moving average is $52.52.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Tuesday, August 10th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $186.22 million for the quarter, compared to analysts’ expectations of $178.72 million. On average, equities analysts anticipate that Bumble Inc. will post -0.24 EPS for the current year.

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 20,700,000 shares of Bumble stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $52.38, for a total value of $1,084,266,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

A number of institutional investors and hedge funds have recently modified their holdings of BMBL. Blackstone Group Inc. purchased a new position in Bumble during the 1st quarter valued at about $5,224,664,000. Accel Growth Fund V Associates L.L.C. purchased a new position in Bumble during the 1st quarter valued at about $315,302,000. JPMorgan Chase & Co. grew its stake in Bumble by 311.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,469,314 shares of the company’s stock valued at $315,032,000 after acquiring an additional 4,140,121 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Bumble during the 1st quarter valued at about $218,713,000. Finally, Winslow Capital Management LLC purchased a new position in Bumble during the 1st quarter valued at about $147,510,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Company Profile (NASDAQ:BMBL)

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 credit-based dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis.

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