Bumble Inc. (NASDAQ:BMBL) Short Interest Down 6.6% in January

Bumble Inc. (NASDAQ:BMBL) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 8,810,000 shares, a decrease of 6.6% from the December 31st total of 9,430,000 shares. Currently, 12.0% of the shares of the stock are short sold. Based on an average daily volume of 2,310,000 shares, the short-interest ratio is currently 3.8 days.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Citigroup increased their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Susquehanna increased their target price on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its position in shares of Bumble by 1.4% during the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,157 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares during the last quarter. nVerses Capital LLC increased its position in shares of Bumble by 47.9% during the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock worth $114,000 after purchasing an additional 5,800 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after purchasing an additional 6,325 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Bumble during the 4th quarter worth $56,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

Shares of BMBL stock traded down $0.08 during trading hours on Monday, hitting $8.03. The company’s stock had a trading volume of 1,262,649 shares, compared to its average volume of 2,047,626. Bumble has a 12-month low of $4.80 and a 12-month high of $14.08. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $868.69 million, a PE ratio of -1.64 and a beta of 1.70. The company has a 50 day moving average of $8.10 and a 200 day moving average of $7.50.

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.