Holocene Advisors LP Has $711,000 Stock Position in Bumble Inc. (NASDAQ:BMBL)

Holocene Advisors LP reduced its stake in Bumble Inc. (NASDAQ:BMBL - Free Report) by 56.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,455 shares of the company's stock after selling 144,118 shares during the period. Holocene Advisors LP owned 0.09% of Bumble worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BMBL. Price T Rowe Associates Inc. MD grew its holdings in Bumble by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company's stock worth $734,000 after acquiring an additional 3,683 shares during the period. 180 Wealth Advisors LLC raised its stake in Bumble by 54.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 65,103 shares of the company's stock valued at $684,000 after purchasing an additional 22,977 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Bumble by 13.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company's stock valued at $7,434,000 after purchasing an additional 83,397 shares during the last quarter. Innealta Capital LLC acquired a new position in Bumble in the 2nd quarter valued at $64,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Bumble in the 2nd quarter worth $401,000. 94.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BMBL has been the subject of a number of recent analyst reports. TD Cowen downgraded Bumble from a "buy" rating to a "hold" rating and cut their price objective for the stock from $22.00 to $7.50 in a research report on Friday, August 16th. KeyCorp cut Bumble from an "overweight" rating to a "sector weight" rating in a research note on Friday, September 27th. Citigroup lifted their price objective on Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $8.00 price target (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Bumble has a consensus rating of "Hold" and a consensus price target of $8.38.

Bumble Price Performance

Shares of BMBL stock traded up $0.02 during mid-day trading on Friday, hitting $8.25. 2,562,086 shares of the stock traded hands, compared to its average volume of 2,096,628. Bumble Inc. has a twelve month low of $4.80 and a twelve month high of $15.90. The firm has a market cap of $892.49 million, a price-to-earnings ratio of -1.69 and a beta of 1.71. The company's 50-day simple moving average is $7.57 and its 200-day simple moving average is $8.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current 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.