Point72 Asset Management L.P. Reduces Position in Bumble Inc. (NASDAQ:BMBL)

Point72 Asset Management L.P. lessened its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 78.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 247,227 shares of the company’s stock after selling 925,605 shares during the quarter. Point72 Asset Management L.P.’s holdings in Bumble were worth $2,012,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after buying an additional 4,000 shares during the period. Cerity Partners LLC purchased a new position in shares of Bumble during the fourth quarter valued at approximately $95,000. Corient Private Wealth LLC purchased a new position in shares of Bumble during the fourth quarter valued at approximately $97,000. Finally, Olympiad Research LP purchased a new position in shares of Bumble during the fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analyst Weigh In

BMBL has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on Bumble from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Morgan Stanley lowered their price target on Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup lowered their price target on Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a report on Friday, April 25th. Finally, Susquehanna lowered their price target on Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.71.

Bumble Trading Down 0.9%

Shares of NASDAQ:BMBL opened at $5.65 on Wednesday. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $12.30. The business’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $6.54. The company has a market capitalization of $583.59 million, a PE ratio of -1.16 and a beta of 1.76. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Bumble had a negative net margin of 54.19% and a positive return on equity of 3.31%. The company had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $246.68 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

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.