Advisory Services Network LLC Grows Stock Position in Bumble Inc. (NASDAQ:BMBL)

Advisory Services Network LLC lifted its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 75.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,802 shares of the company’s stock after acquiring an additional 12,402 shares during the period. Advisory Services Network LLC’s holdings in Bumble were worth $234,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in shares of Bumble in the 4th quarter valued at $56,000. Cerity Partners LLC purchased a new stake in Bumble during the 4th quarter valued at about $95,000. Corient Private Wealth LLC acquired a new position in shares of Bumble in the fourth quarter valued at about $97,000. Olympiad Research LP purchased a new position in shares of Bumble in the fourth quarter worth about $129,000. Finally, AlphaQuest LLC raised its stake in shares of Bumble by 43,248.7% in the fourth quarter. AlphaQuest LLC now owns 16,906 shares of the company’s stock worth $138,000 after purchasing an additional 16,867 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company cut their price target on Bumble from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley dropped their target price on Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Thursday. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. The Goldman Sachs Group dropped their price objective on shares of Bumble from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Bumble presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Bumble Stock Performance

NASDAQ BMBL opened at $4.36 on Friday. The business’s 50-day moving average price is $4.98 and its 200 day moving average price is $6.84. 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 Inc. has a twelve month low of $3.55 and a twelve month high of $12.49. The company has a market capitalization of $460.18 million, a PE ratio of -0.89 and a beta of 1.77.

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.