UBS Group Cuts Bumble (NASDAQ:BMBL) Price Target to $3.00

Bumble (NASDAQ:BMBL) had its price target lowered by UBS Group from $4.50 to $3.00 in a report issued on Wednesday, MarketBeat.com reports. UBS Group currently has a neutral rating on the stock.

Several other research firms also recently commented on BMBL. Raymond James Financial reissued a “market perform” rating on shares of Bumble in a report on Thursday, June 25th. Citigroup decreased their price target on Bumble from $3.90 to $3.60 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Bumble in a research note on Tuesday, August 4th. Wells Fargo & Company cut their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Finally, Susquehanna decreased their price target on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $3.87.

Bumble Stock Performance

Bumble stock opened at $2.71 on Wednesday. Bumble has a twelve month low of $2.54 and a twelve month high of $7.32. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $2.94 and its 200 day moving average is $3.24. The company has a market capitalization of $357.64 million, a P/E ratio of -0.64, a PEG ratio of 0.15 and a beta of 1.87.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.09). The company had revenue of $210.53 million during the quarter, compared to analysts’ expectations of $210.46 million. Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.Bumble’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.45) EPS. On average, equities research analysts predict that Bumble will post 0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,954,026 shares of company stock worth $113,182,633. Company insiders own 15.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in Bumble by 314.5% during the 1st quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock valued at $1,986,000 after acquiring an additional 462,251 shares during the period. RBF Capital LLC raised its holdings in shares of Bumble by 86.9% during the first quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock worth $3,154,000 after purchasing an additional 449,866 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after purchasing an additional 1,378,487 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Bumble during the first quarter valued at $2,039,000. Finally, Militia Capital Partners LP acquired a new position in Bumble during the fourth quarter valued at $1,080,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.