Bumble (NASDAQ:BMBL) Reaches New 52-Week Low at $9.94

Bumble Inc. (NASDAQ:BMBL)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.94 and last traded at $9.96, with a volume of 989445 shares traded. The stock had previously closed at $10.36.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMBL shares. JPMorgan Chase & Co. cut their price target on Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Susquehanna lowered their price target on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. Morgan Stanley initiated coverage on shares of Bumble in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price target on shares of Bumble in a research report on Wednesday, February 28th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.91.

Bumble Stock Performance

The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $11.07 and its 200-day simple moving average is $13.02.

Bumble (NASDAQ:BMBL) last announced its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). The firm had revenue of $273.64 million for the quarter, compared to analyst estimates of $275.38 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. Analysts forecast that Bumble Inc. will post 0.66 earnings per share for the current year.

Insider Activity at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC increased its holdings in Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,092 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Bumble during the third quarter valued at $45,000. FNY Investment Advisers LLC bought a new position in Bumble in the 4th quarter worth about $68,000. CWM LLC boosted its position in Bumble by 1,631.0% during the 3rd quarter. CWM LLC now owns 10,386 shares of the company’s stock worth $155,000 after acquiring an additional 9,786 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Bumble during the third quarter worth approximately $161,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.