Bumble (NASDAQ:BMBL) Downgraded to Neutral at Citigroup

Citigroup cut shares of Bumble (NASDAQ:BMBL) from a buy rating to a neutral rating in a report published on Thursday, MarketBeat.com reports. Citigroup currently has $6.00 target price on the stock, down from their prior target price of $12.00.

A number of other equities research analysts also recently issued reports on the company. Bank of America downgraded Bumble from a buy rating to an underperform rating and lowered their price target for the company from $12.00 to $5.50 in a research report on Thursday. Wells Fargo & Company cut Bumble from an overweight rating to an equal weight rating and decreased their target price for the stock from $15.00 to $10.00 in a report on Monday, July 8th. KeyCorp cut their price target on shares of Bumble from $16.00 to $11.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded shares of Bumble from an overweight rating to a neutral rating and decreased their price objective for the stock from $17.00 to $7.00 in a research note on Thursday. Finally, Evercore ISI downgraded shares of Bumble from an outperform rating to an inline rating and cut their target price for the company from $18.00 to $8.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bumble presently has a consensus rating of Hold and a consensus price target of $9.91.

Bumble Trading Up 4.7 %

Shares of BMBL stock opened at $5.98 on Thursday. The firm’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $10.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. Bumble has a 1-year low of $4.80 and a 1-year high of $17.31. The firm has a market cap of $754.67 million, a P/E ratio of 35.18 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. Bumble’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, equities analysts forecast that Bumble will post 0.9 EPS for the current year.

Insider Activity

In related news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the sale, the director now directly owns 29,030 shares in the company, valued at approximately $331,232.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

Several large investors have recently added to or reduced their stakes in the business. Jump Financial LLC grew its stake in shares of Bumble by 1,895.5% in the fourth quarter. Jump Financial LLC now owns 222,396 shares of the company’s stock worth $3,278,000 after purchasing an additional 211,251 shares in the last quarter. Vanguard Group Inc. grew its position in Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after buying an additional 613,759 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Bumble during the 1st quarter valued at about $937,000. Allspring Global Investments Holdings LLC raised its position 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 worth $10,076,000 after buying an additional 97,948 shares in the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of Bumble in the 1st quarter worth approximately $1,049,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.