Bumble (NASDAQ:BMBL) Lowered to “Hold” at Hsbc Global Res

Hsbc Global Res cut shares of Bumble (NASDAQ:BMBL) from a strong-buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded Bumble from an overweight rating to a neutral rating and lowered their target price for the company from $17.00 to $7.00 in a research report on Thursday. Susquehanna downgraded Bumble from a positive rating to a neutral rating and lowered their price target for the stock from $14.00 to $6.00 in a research report on Friday. Bank of America downgraded Bumble from a buy rating to an underperform rating and lowered their price target for the stock from $12.00 to $5.50 in a research report on Thursday. Wolfe Research began coverage on Bumble in a research report on Tuesday, July 16th. They set an outperform rating and a $14.00 price target on the stock. Finally, Morgan Stanley lowered their price target on Bumble from $12.00 to $6.00 and set an equal weight rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bumble has a consensus rating of Hold and a consensus target price of $9.91.

Bumble Stock Up 4.7 %

Shares of Bumble stock traded up $0.27 during trading on Friday, reaching $5.98. The stock had a trading volume of 8,717,995 shares, compared to its average volume of 3,150,074. The company has a market capitalization of $754.67 million, a price-to-earnings ratio of 35.18 and a beta of 1.70. The stock has a fifty day moving average price of $9.66 and a two-hundred day moving average price of $10.96. Bumble has a 52 week low of $4.80 and a 52 week high of $17.31. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. Sell-side analysts predict that Bumble will post 0.9 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $11.41, for a total value of $85,483.72. Following the transaction, the director now owns 29,030 shares of the company’s stock, valued at $331,232.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently made changes to their positions in BMBL. Headlands Technologies LLC lifted its stake in 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 during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Bumble by 73.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after buying an additional 2,210 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Bumble during the second quarter worth $64,000. Meeder Asset Management Inc. acquired a new position in shares of Bumble during the second quarter worth $82,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Bumble during the fourth quarter worth $162,000. 94.85% of the stock is currently owned by institutional investors.

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.