Bumble (NASDAQ:BMBL) Shares Down 5.3% After Analyst Downgrade

Bumble Inc. (NASDAQ:BMBL - Get Free Report)'s stock price was down 5.3% during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $10.00 to $8.00. The Goldman Sachs Group currently has a buy rating on the stock. Bumble traded as low as $4.74 and last traded at $4.75. Approximately 383,231 shares were traded during trading, a decline of 87% from the average daily volume of 2,987,601 shares. The stock had previously closed at $5.01.

BMBL has been the subject of several other reports. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Morgan Stanley lowered their price target on shares of Bumble from $8.00 to $6.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Wells Fargo & Company reduced their target price on Bumble from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Finally, Evercore ISI lowered their target price on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7.25.

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Hedge Funds Weigh In On Bumble

Several institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Bumble during the fourth quarter worth $56,000. Tower Research Capital LLC TRC grew its position in Bumble by 20.3% in the fourth 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. Canada Pension Plan Investment Board raised its position in shares of Bumble by 56.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock valued at $90,000 after purchasing an additional 4,000 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Bumble in the fourth quarter worth $97,000. Finally, Wexford Capital LP bought a new stake in Bumble in the fourth quarter valued at about $98,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Price Performance

The company's 50 day simple moving average is $6.64 and its two-hundred day simple moving average is $7.18. The stock has a market capitalization of $478.12 million, a P/E ratio of -0.93 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

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.