The Manufacturers Life Insurance Company Has $341,000 Stake in Bumble Inc. (NASDAQ:BMBL)

The Manufacturers Life Insurance Company cut its stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 97.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,504 shares of the company's stock after selling 1,989,095 shares during the period. The Manufacturers Life Insurance Company's holdings in Bumble were worth $341,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BMBL. Innealta Capital LLC bought a new stake in Bumble during the second quarter worth approximately $64,000. SG Americas Securities LLC acquired a new position in shares of Bumble in the 3rd quarter valued at $71,000. Capital Management Associates Inc acquired a new stake in Bumble during the third quarter valued at approximately $74,000. Meeder Asset Management Inc. acquired a new stake in shares of Bumble in the 2nd quarter valued at $82,000. Finally, Headlands Technologies LLC bought a new stake in shares of Bumble in the 2nd quarter worth about $94,000. Institutional investors and hedge funds own 94.85% of the company's stock.

Bumble Trading Up 1.3 %

NASDAQ BMBL traded up $0.11 during trading on Monday, reaching $8.43. 1,697,614 shares of the stock traded hands, compared to its average volume of 3,027,853. The stock's 50-day moving average price is $7.77 and its 200 day moving average price is $8.10. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm has a market cap of $911.97 million, a price-to-earnings ratio of -1.70 and a beta of 1.71. Bumble Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $15.46.

Analyst Upgrades and Downgrades

BMBL has been the subject of several analyst reports. 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 report on Thursday, November 7th. Susquehanna boosted their target price on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Stifel Nicolaus raised their price target on Bumble from $6.50 to $7.00 and gave the company a "hold" rating in a report on Thursday, November 7th. KeyCorp lowered shares of Bumble from an "overweight" rating to a "sector weight" rating in a report on Friday, September 27th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $8.38.

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.