LA Financiere DE L Echiquier Sells 64,000 Shares of Bumble Inc. (NASDAQ:BMBL)

LA Financiere DE L Echiquier trimmed its position in shares of Bumble Inc. (NASDAQ:BMBLGet Rating) by 16.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,000 shares of the company’s stock after selling 64,000 shares during the period. LA Financiere DE L Echiquier’s holdings in Bumble were worth $9,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in Bumble by 136.3% during the first quarter. New York State Common Retirement Fund now owns 40,174 shares of the company’s stock valued at $1,164,000 after acquiring an additional 23,174 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Bumble during the first quarter valued at about $2,154,000. Advisor Group Holdings Inc. raised its position in shares of Bumble by 2.6% during the first quarter. Advisor Group Holdings Inc. now owns 16,549 shares of the company’s stock valued at $471,000 after buying an additional 425 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Bumble by 150.0% during the first quarter. Envestnet Asset Management Inc. now owns 41,470 shares of the company’s stock valued at $1,202,000 after buying an additional 24,879 shares during the last quarter. Finally, Cannon Global Investment Management LLC acquired a new position in shares of Bumble during the first quarter valued at about $365,000. 98.62% of the stock is currently owned by institutional investors.

Bumble Price Performance

Shares of BMBL traded up $1.24 during mid-day trading on Thursday, hitting $36.23. 22,115 shares of the company traded hands, compared to its average volume of 1,840,972. Bumble Inc. has a one year low of $15.41 and a one year high of $61.05. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $30.95 and a 200 day moving average of $28.01. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -502.21 and a beta of 1.14.

Bumble (NASDAQ:BMBLGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. Bumble had a negative net margin of 0.94% and a negative return on equity of 0.58%. The business had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $208.72 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. As a group, equities analysts expect that Bumble Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BMBL shares. Susquehanna Bancshares cut their price objective on shares of Bumble from $33.00 to $24.00 in a research report on Thursday, May 12th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Bumble in a research report on Friday, June 10th. Raymond James upped their price objective on shares of Bumble from $25.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 11th. Royal Bank of Canada dropped their price target on shares of Bumble from $35.00 to $30.00 in a research report on Thursday, May 12th. Finally, Cowen increased their price target on shares of Bumble from $36.00 to $38.00 in a research report on Thursday, May 12th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.36.

Bumble Profile

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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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.

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Institutional Ownership by Quarter for Bumble (NASDAQ:BMBL)

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