Bumble (NASDAQ:BMBL) Stock Price Up 5.6% - Here's Why

Bumble Inc. (NASDAQ:BMBL - Get Free Report)'s stock price rose 5.6% during mid-day trading on Friday . The stock traded as high as $4.99 and last traded at $4.99. Approximately 881,083 shares changed hands during trading, a decline of 71% from the average daily volume of 2,999,312 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday. Wolfe Research cut Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Citigroup decreased their price objective on Bumble from $8.00 to $6.80 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Piper Sandler cut their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their target price on Bumble from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.52.

Bumble Stock Performance

The firm has a fifty day moving average of $7.21 and a 200-day moving average of $7.31. 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 $501.87 million, a P/E ratio of -0.97 and a beta of 1.77.

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Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMBL. QRG Capital Management Inc. acquired a new position in Bumble in the third quarter valued at approximately $246,000. Principal Financial Group Inc. bought a new stake in shares of Bumble during the 3rd quarter valued at $911,000. Los Angeles Capital Management LLC acquired a new position in shares of Bumble in the 3rd quarter valued at $181,000. Versor Investments LP boosted its position in shares of Bumble by 25.3% in the 3rd quarter. Versor Investments LP now owns 38,600 shares of the company's stock worth $246,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Bumble during the third quarter worth $187,000. Institutional investors own 94.85% of the company's stock.

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.