Advisory Services Network LLC Raises Stock Holdings in Bumble Inc. (NASDAQ:BMBL)

Advisory Services Network LLC raised its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 75.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,802 shares of the company’s stock after buying an additional 12,402 shares during the period. Advisory Services Network LLC’s holdings in Bumble were worth $234,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in Bumble during the 4th quarter valued at $56,000. Cerity Partners LLC bought a new position in shares of Bumble during the fourth quarter worth about $95,000. Corient Private Wealth LLC acquired a new position in Bumble in the fourth quarter worth about $97,000. Olympiad Research LP bought a new stake in Bumble in the fourth quarter valued at about $129,000. Finally, AlphaQuest LLC increased its holdings in Bumble by 43,248.7% in the fourth quarter. AlphaQuest LLC now owns 16,906 shares of the company’s stock valued at $138,000 after buying an additional 16,867 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Performance

Bumble stock opened at $4.36 on Friday. The stock has a 50-day simple moving average of $4.98 and a 200 day simple moving average of $6.84. The stock has a market capitalization of $460.18 million, a price-to-earnings ratio of -0.89 and a beta of 1.77. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $12.49.

Analyst Ratings Changes

Several brokerages recently issued reports on BMBL. The Goldman Sachs Group reduced their price objective on Bumble from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Morgan Stanley reduced their price target on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler cut their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Evercore ISI dropped their price target on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.09.

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.