KeyCorp Cuts Bumble (NASDAQ:BMBL) Price Target to $8.00

Bumble (NASDAQ:BMBL) had its target price decreased by KeyCorp from $11.00 to $8.00 in a report released on Tuesday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research firms also recently commented on BMBL. HSBC reaffirmed a hold rating on shares of Bumble in a report on Friday, August 9th. Susquehanna downgraded shares of Bumble from a positive rating to a neutral rating and decreased their price objective for the stock from $14.00 to $6.00 in a report on Friday, August 9th. BTIG Research downgraded shares of Bumble from a buy rating to a neutral rating in a research report on Thursday, August 8th. Evercore ISI lowered shares of Bumble from an outperform rating to an inline rating and decreased their price target for the company from $18.00 to $8.00 in a report on Thursday, August 8th. Finally, Wolfe Research began coverage on shares of Bumble in a research note on Tuesday, July 16th. They set an outperform rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $9.62.

Bumble Stock Performance

Bumble stock opened at $5.90 on Tuesday. 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. The stock has a market cap of $744.57 million, a P/E ratio of 34.71 and a beta of 1.70. The stock has a 50 day moving average of $9.18 and a 200-day moving average of $10.75.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. During the same period last year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts expect that Bumble will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at Bumble

In other news, Director Ann Mather sold 7,492 shares of the stock in a transaction 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 completion of 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 SEC, which is available at the SEC website. 7.84% of the stock is owned by company insiders.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bumble by 17.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,355 shares of the company’s stock valued at $1,700,000 after acquiring an additional 16,869 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Bumble by 16.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after purchasing an additional 97,948 shares during the period. Handelsbanken Fonder AB increased its position in shares of Bumble by 24.2% during the 4th quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock valued at $227,000 after purchasing an additional 3,000 shares during the period. New York State Common Retirement Fund raised its stake in shares of Bumble by 5.6% in the 4th quarter. New York State Common Retirement Fund now owns 151,449 shares of the company’s stock worth $2,232,000 after buying an additional 8,097 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after buying an additional 1,092 shares during the period. 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.