Kestra Private Wealth Services LLC Takes Position in Bumble Inc. (NASDAQ:BMBL)

Kestra Private Wealth Services LLC acquired a new position in shares of Bumble Inc. (NASDAQ:BMBL) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 12,400 shares of the company’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMBL. Teacher Retirement System of Texas acquired a new stake in Bumble in the first quarter valued at $49,000. Tyche Wealth Partners LLC purchased a new position in shares of Bumble in the 1st quarter valued at about $52,000. Tower Research Capital LLC TRC raised its position in shares of Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after acquiring an additional 1,249 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Bumble during the first quarter worth approximately $72,000. Finally, Cerity Partners LLC lifted its stake in Bumble by 40.0% during the first quarter. Cerity Partners LLC now owns 17,105 shares of the company’s stock worth $74,000 after purchasing an additional 4,885 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Down 3.8%

NASDAQ:BMBL opened at $7.63 on Wednesday. Bumble Inc. has a 12-month low of $3.55 and a 12-month high of $9.72. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.75. The stock’s 50 day simple moving average is $6.23 and its 200-day simple moving average is $5.87. The firm has a market cap of $788.10 million, a P/E ratio of -1.56, a PEG ratio of 0.27 and a beta of 1.94.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). Bumble had a negative net margin of 54.06% and a positive return on equity of 5.81%. The firm had revenue of $247.10 million during the quarter, compared to analyst estimates of $246.68 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts anticipate that Bumble Inc. will post 4.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BMBL shares. Bank of America boosted their price objective on shares of Bumble from $5.25 to $5.50 and gave the stock an “underperform” rating in a research report on Wednesday, July 2nd. Morgan Stanley reduced their price target on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $7.00 price objective (up previously from $5.00) on shares of Bumble in a report on Thursday, June 26th. Wells Fargo & Company reissued a “positive” rating on shares of Bumble in a report on Friday, June 27th. Finally, Citigroup upped their target price on Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Bumble has an average rating of “Hold” and an average target price of $6.60.

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.