Point72 Asset Management L.P. Has $7.48 Million Position in Bumble Inc. (NASDAQ:BMBL)

Point72 Asset Management L.P. reduced its stake in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 48.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,172,832 shares of the company's stock after selling 1,122,175 shares during the quarter. Point72 Asset Management L.P. owned about 0.93% of Bumble worth $7,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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 worth $21,468,000 after buying an additional 297,057 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bumble by 13.4% during 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 in the last quarter. Westbourne Investment Advisors Inc. grew its position in shares of Bumble by 17.1% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company's stock valued at $2,621,000 after purchasing an additional 59,970 shares during the period. Victory Capital Management Inc. grew its position in shares of Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company's stock valued at $1,595,000 after purchasing an additional 206,215 shares during the period. Finally, Prentice Capital Management LP increased its stake in Bumble by 54.1% during the 3rd quarter. Prentice Capital Management LP now owns 242,844 shares of the company's stock worth $1,549,000 after purchasing an additional 85,304 shares in the last quarter. 94.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. KeyCorp cut shares of Bumble from an "overweight" rating to a "sector weight" rating in a report on Friday, September 27th. The Goldman Sachs Group upped their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Susquehanna lifted their price target on Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Citigroup boosted their price target on Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.38.

Bumble Stock Performance

NASDAQ BMBL traded up $0.02 on Friday, hitting $8.25. 2,562,086 shares of the stock were exchanged, compared to its average volume of 2,096,628. The business's fifty day moving average is $7.57 and its 200 day moving average is $8.23. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.90. The company has a market capitalization of $892.49 million, a PE ratio of -1.69 and a beta of 1.71. 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 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.