Zimmer Partners LP Buys New Stake in Bumble Inc. (NASDAQ:BMBL)

Zimmer Partners LP bought a new stake in Bumble Inc. (NASDAQ:BMBL) during the first quarter, HoldingsChannel reports. The institutional investor bought 74,360 shares of the company’s stock, valued at approximately $4,639,000.

A number of other hedge funds also recently bought and sold shares of the stock. Blackstone Group Inc. purchased a new stake in Bumble in the 1st quarter valued at approximately $3,412,759,000. Accel Growth Fund V Associates L.L.C. acquired a new position in Bumble in the 1st quarter valued at $315,302,000. Massachusetts Financial Services Co. MA acquired a new position in Bumble in the 1st quarter valued at $218,713,000. Winslow Capital Management LLC acquired a new position in Bumble in the 1st quarter valued at $147,510,000. Finally, BlackRock Inc. acquired a new position in Bumble in the 1st quarter valued at $130,605,000.

In other Bumble news, Director Amy Griffin bought 117,500 shares of the business’s stock in a transaction on Wednesday, May 26th. The shares were purchased at an average price of $42.81 per share, with a total value of $5,030,175.00. Following the completion of the acquisition, the director now directly owns 1 shares of the company’s stock, valued at approximately $42.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of analysts have recently commented on BMBL shares. Royal Bank of Canada started coverage on Bumble in a report on Friday, July 9th. They set an “outperform” rating and a $65.00 price objective for the company. Susquehanna upped their price objective on Bumble from $70.00 to $78.00 and gave the stock a “positive” rating in a report on Thursday, May 13th. BTIG Research started coverage on Bumble in a report on Monday, April 12th. They set a “buy” rating and a $77.00 price objective for the company. Jefferies Financial Group dropped their price objective on Bumble from $82.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, May 13th. Finally, Wolfe Research assumed coverage on Bumble in a report on Wednesday, March 31st. They issued a “peer perform” rating and a $56.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Bumble presently has a consensus rating of “Buy” and an average price target of $64.50.

NASDAQ BMBL traded up $0.68 during trading hours on Thursday, reaching $49.70. The company’s stock had a trading volume of 8,265 shares, compared to its average volume of 1,406,939. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $48.89. Bumble Inc. has a 52 week low of $38.91 and a 52 week high of $84.80.

Bumble (NASDAQ:BMBL) last issued its earnings results on Tuesday, May 11th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $1.72. The business had revenue of $170.70 million during the quarter, compared to the consensus estimate of $164.74 million. Bumble’s quarterly revenue was up 43.4% compared to the same quarter last year. As a group, equities research analysts expect that Bumble Inc. will post -0.26 earnings per share for the current 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 credit-based dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis.

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Institutional Ownership by Quarter for Bumble (NASDAQ:BMBL)

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