Bumble (NASDAQ:BMBL) Stock Price Down 5.8%

Bumble Inc. (NASDAQ:BMBL)’s share price dropped 5.8% on Monday . The company traded as low as $9.89 and last traded at $9.90. Approximately 773,151 shares were traded during trading, a decline of 73% from the average daily volume of 2,834,196 shares. The stock had previously closed at $10.51.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMBL. Morgan Stanley initiated coverage on shares of Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price target on the stock. KeyCorp dropped their price target on Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Raymond James reissued a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. The Goldman Sachs Group dropped their price objective on shares of Bumble from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Evercore ISI boosted their price target on shares of Bumble from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.89.

Bumble Price Performance

The firm has a market capitalization of $1.22 billion, a P/E ratio of 56.71 and a beta of 1.70. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $10.94 and its 200 day simple moving average is $12.03.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. The business had revenue of $267.80 million during the quarter, compared to the consensus estimate of $265.41 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts forecast that Bumble Inc. will post 0.9 earnings per share for the current year.

Insider Activity

In related news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now directly owns 29,030 shares in the company, valued at approximately $331,232.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the period. Wellington Management Group LLP lifted its position in shares of Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after purchasing an additional 347,238 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Bumble by 39.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after purchasing an additional 1,013,374 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Bumble by 12.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after purchasing an additional 397,741 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Bumble by 15.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock worth $28,446,000 after purchasing an additional 258,288 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors.

About Bumble

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.