Bumble Inc. (NASDAQ:BMBL) Shares Acquired by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. grew its position in Bumble Inc. (NASDAQ:BMBL) by 75.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Bumble were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMBL. SG Americas Securities LLC raised its stake in Bumble by 90.8% during the 3rd quarter. SG Americas Securities LLC now owns 20,274 shares of the company’s stock worth $302,000 after acquiring an additional 9,646 shares in the last quarter. Raymond James & Associates grew its position in Bumble by 100.8% during the 3rd quarter. Raymond James & Associates now owns 195,919 shares of the company’s stock worth $2,923,000 after purchasing an additional 98,361 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Bumble by 4.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,486 shares of the company’s stock worth $1,469,000 after purchasing an additional 4,623 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Bumble by 14.4% during the 3rd quarter. 180 Wealth Advisors LLC now owns 20,523 shares of the company’s stock worth $306,000 after purchasing an additional 2,583 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Bumble by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 15,048 shares of the company’s stock worth $225,000 after purchasing an additional 4,254 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BMBL shares. 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 report on Thursday, February 29th. KeyCorp lowered their target price on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Bumble in a report on Wednesday, February 28th. Morgan Stanley began coverage on shares of Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 target price on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bumble currently has an average rating of “Moderate Buy” and an average target price of $16.68.

Insider Activity at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.84% of the stock is currently owned by corporate insiders.

Bumble Stock Up 0.7 %

Shares of BMBL stock traded up $0.07 on Thursday, hitting $10.19. The stock had a trading volume of 1,044,418 shares, compared to its average volume of 2,829,293. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -340.33, a P/E/G ratio of 0.28 and a beta of 1.67. The stock’s 50 day moving average is $10.94 and its 200-day moving average is $12.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01. Bumble Inc. has a 52-week low of $9.93 and a 52-week high of $21.06.

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

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.