Bumble (NASDAQ:BMBL) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Bumble (NASDAQ:BMBL) in a report published on Thursday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $13.00 price target on the stock.

BMBL has been the topic of a number of other research reports. Susquehanna lowered their price objective 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. Raymond James reiterated a market perform rating on shares of Bumble in a research note on Thursday, April 4th. JPMorgan Chase & Co. lowered their price objective on shares of Bumble from $20.00 to $17.00 and set an overweight rating on the stock in a research note on Wednesday, February 28th. Piper Sandler reiterated a neutral rating and set a $13.00 price objective (down previously from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Finally, BTIG Research lowered their price objective on shares of Bumble from $20.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Bumble has an average rating of Moderate Buy and a consensus price target of $16.91.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $10.24 on Thursday. The firm’s 50 day moving average is $11.51 and its two-hundred day moving average is $13.22. Bumble has a 52 week low of $9.94 and a 52 week high of $21.06. The firm has a market capitalization of $1.33 billion, a P/E ratio of -341.33, a PEG ratio of 0.28 and a beta of 1.68. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling

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 completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.56% of the company’s stock.

Hedge Funds Weigh In On Bumble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Bumble by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after purchasing an additional 297,286 shares during the period. Wellington Management Group LLP boosted its stake in shares of Bumble by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after buying an additional 347,238 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Bumble by 16.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after buying an additional 97,948 shares during the period. Hudson Bay Capital Management LP boosted its stake in shares of Bumble by 800.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after buying an additional 400,000 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in shares of Bumble during the 3rd quarter valued at $753,000. Institutional investors and hedge funds 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.