Holocene Advisors LP Sells 144,118 Shares of Bumble Inc. (NASDAQ:BMBL)

Holocene Advisors LP trimmed its stake in shares of Bumble Inc. (NASDAQ:BMBL) by 56.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,455 shares of the company’s stock after selling 144,118 shares during the quarter. Holocene Advisors LP owned approximately 0.09% of Bumble worth $711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Bumble during the 2nd quarter worth about $64,000. SG Americas Securities LLC acquired a new stake in Bumble during the third quarter worth approximately $71,000. Capital Management Associates Inc bought a new stake in Bumble in the third quarter worth approximately $74,000. D.A. Davidson & CO. acquired a new position in Bumble in the third quarter valued at approximately $77,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Bumble during the 2nd quarter worth approximately $82,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BMBL shares. TD Cowen lowered shares of Bumble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $7.50 in a research note on Friday, August 16th. The Goldman Sachs Group lifted their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. KeyCorp cut shares of Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Stifel Nicolaus increased their price target on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, Citigroup increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.38.

Bumble Stock Performance

NASDAQ BMBL opened at $8.25 on Friday. The company’s 50 day moving average is $7.57 and its 200-day moving average is $8.26. The firm has a market cap of $892.49 million, a P/E ratio of -1.69 and a beta of 1.71. Bumble Inc. has a 12-month low of $4.80 and a 12-month high of $15.90. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

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.