Principal Financial Group Inc. Purchases New Position in Bumble Inc. (NASDAQ:BMBL)

Principal Financial Group Inc. bought a new stake in Bumble Inc. (NASDAQ:BMBL - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 142,832 shares of the company's stock, valued at approximately $911,000. Principal Financial Group Inc. owned 0.13% of Bumble at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Bumble in the 3rd quarter valued at approximately $71,000. Capital Management Associates Inc acquired a new position in shares of Bumble in the third quarter worth $74,000. D.A. Davidson & CO. purchased a new stake in shares of Bumble during the third quarter worth $77,000. Meeder Asset Management Inc. acquired a new stake in Bumble during the second quarter valued at $82,000. Finally, Quantinno Capital Management LP purchased a new position in Bumble in the third quarter valued at about $90,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMBL. KeyCorp lowered Bumble from an "overweight" rating to a "sector weight" rating in a report on Friday, September 27th. Stifel Nicolaus boosted their target price on shares of Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Susquehanna raised their price target on shares of Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Wolfe Research lowered shares of Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday. Finally, The Goldman Sachs Group increased their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Bumble presently has a consensus rating of "Hold" and a consensus price target of $8.38.

Bumble Stock Performance

Shares of BMBL traded up $0.13 during trading hours on Friday, reaching $8.10. 1,463,566 shares of the company traded hands, compared to its average volume of 1,486,433. Bumble Inc. has a 1-year low of $4.80 and a 1-year high of $15.05. The stock has a market cap of $876.27 million, a P/E ratio of -1.66 and a beta of 1.71. The stock's fifty day moving average is $8.09 and its 200 day moving average is $7.78. 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.