Bumble (NASDAQ:BMBL) Downgraded to Hold at TD Cowen

TD Cowen lowered shares of Bumble (NASDAQ:BMBL) from a buy rating to a hold rating in a research note released on Friday, MarketBeat Ratings reports. They currently have $7.50 price objective on the stock, down from their prior price objective of $22.00.

Several other research firms have also issued reports on BMBL. Wolfe Research began coverage on shares of Bumble in a research report on Tuesday, July 16th. They set an outperform rating and a $14.00 price target on the stock. Bank of America lowered Bumble from a buy rating to an underperform rating and decreased their price target for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. Hsbc Global Res cut Bumble from a strong-buy rating to a hold rating in a report on Friday, August 9th. The Goldman Sachs Group reduced their price objective on Bumble from $18.00 to $9.00 and set a buy rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company lowered their target price on Bumble from $10.00 to $7.00 and set an equal weight rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $9.62.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $6.44 on Friday. The business has a fifty day moving average price of $8.99 and a two-hundred day moving average price of $10.60. The stock has a market capitalization of $812.72 million, a PE ratio of 37.88 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $17.31.

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

Insider Buying and Selling

In other Bumble news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the transaction, the director now directly owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.84% of the stock is currently owned by insiders.

Institutional Trading of Bumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Bumble in the 2nd quarter valued at $1,716,000. Mackenzie Financial Corp acquired a new position in Bumble in the second quarter valued at $333,000. The Manufacturers Life Insurance Company boosted its position in Bumble by 17.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after acquiring an additional 297,057 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Bumble during the 2nd quarter worth about $823,000. Finally, AXA S.A. raised its position in shares of Bumble by 1,589.8% in the 2nd quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after acquiring an additional 179,757 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.