Bumble Inc. $BMBL Stock Position Lifted by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 40.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,854 shares of the company’s stock after purchasing an additional 36,603 shares during the period. Patriot Financial Group Insurance Agency LLC owned about 0.12% of Bumble worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMBL. Federated Hermes Inc. purchased a new position in Bumble during the first quarter valued at approximately $3,231,000. PDT Partners LLC grew its position in Bumble by 242.6% during the first quarter. PDT Partners LLC now owns 743,743 shares of the company’s stock valued at $3,228,000 after purchasing an additional 526,629 shares in the last quarter. Nuveen LLC purchased a new position in Bumble during the first quarter valued at approximately $1,196,000. Royal Bank of Canada grew its position in Bumble by 409.3% during the first quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock valued at $1,410,000 after purchasing an additional 261,281 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Bumble during the first quarter valued at approximately $808,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BMBL shares. Susquehanna reaffirmed a “neutral” rating and set a $7.00 price objective (up from $5.00) on shares of Bumble in a research report on Monday, August 11th. Wells Fargo & Company reissued a “positive” rating on shares of Bumble in a research report on Friday, June 27th. Royal Bank Of Canada boosted their target price on shares of Bumble from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on shares of Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Finally, Bank of America boosted their target price on shares of Bumble from $5.25 to $5.50 and gave the stock an “underperform” rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.46.

Insiders Place Their Bets

In other news, major shareholder – Nq L.L.C. Btoa sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The disclosure for this sale can be found here. Insiders sold 68,124,652 shares of company stock valued at $426,460,322 in the last three months. Company insiders own 15.84% of the company’s stock.

Bumble Price Performance

Shares of Bumble stock opened at $5.86 on Friday. The firm has a fifty day simple moving average of $6.68 and a 200-day simple moving average of $5.83. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 1.00. Bumble Inc. has a 1-year low of $3.55 and a 1-year high of $9.22. The stock has a market capitalization of $609.50 million, a price-to-earnings ratio of -1.20, a PEG ratio of 0.84 and a beta of 1.94.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The business had revenue of $248.23 million during the quarter, compared to analysts’ expectations of $243.72 million. During the same period in the previous year, the company earned $0.22 earnings per share. Bumble’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, sell-side analysts expect that Bumble Inc. will post 4.19 earnings per share for the current year.

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.