Victory Capital Management Inc. Has $1.60 Million Stock Position in Bumble Inc. (NASDAQ:BMBL)

Victory Capital Management Inc. boosted its stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 470.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 250,025 shares of the company's stock after buying an additional 206,215 shares during the period. Victory Capital Management Inc. owned about 0.20% of Bumble worth $1,595,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Bumble during the second quarter valued at approximately $24,121,000. Vanguard Group Inc. raised its stake in Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company's stock valued at $122,837,000 after purchasing an additional 613,759 shares during the period. The Manufacturers Life Insurance Company raised its stake in Bumble by 17.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company's stock valued at $21,468,000 after purchasing an additional 297,057 shares during the period. AXA S.A. lifted its holdings in shares of Bumble by 1,589.8% in the second quarter. AXA S.A. now owns 191,064 shares of the company's stock valued at $2,008,000 after purchasing an additional 179,757 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Bumble in the second quarter worth $1,716,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Performance

Shares of NASDAQ BMBL traded down $0.43 during trading hours on Tuesday, hitting $8.65. 1,551,698 shares of the stock were exchanged, compared to its average volume of 3,076,616. Bumble Inc. has a one year low of $4.80 and a one year high of $15.90. The company's 50 day moving average is $7.20 and its 200 day moving average is $8.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market capitalization of $935.76 million, a P/E ratio of -1.77 and a beta of 1.62.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HSBC reissued a "hold" rating on shares of Bumble in a research note on Friday, August 9th. The Goldman Sachs Group raised their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Susquehanna upped their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Royal Bank of Canada decreased their target price on shares of Bumble from $16.00 to $8.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen downgraded shares of Bumble from a "buy" rating to a "hold" rating and dropped their price target for the stock from $22.00 to $7.50 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Bumble has an average rating of "Hold" and an average price target of $8.38.

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.