Victory Capital Management Inc. Sells 167,190 Shares of Bumble Inc. (NASDAQ:BMBL)

Victory Capital Management Inc. lowered its position in shares of Bumble Inc. (NASDAQ:BMBL - Free Report) by 66.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,835 shares of the company's stock after selling 167,190 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Bumble worth $674,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Bumble during the third quarter worth about $911,000. Prentice Capital Management LP raised its holdings 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 buying an additional 85,304 shares during the period. Westbourne Investment Advisors Inc. lifted its stake in Bumble by 18.4% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company's stock valued at $3,960,000 after buying an additional 75,635 shares in the last quarter. Intech Investment Management LLC bought a new position in Bumble in the third quarter valued at approximately $203,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Bumble in the fourth quarter valued at approximately $214,000. Institutional investors own 94.85% of the company's stock.

Bumble Stock Performance

NASDAQ:BMBL traded down $0.08 during mid-day trading on Tuesday, reaching $4.71. 2,642,181 shares of the company's stock were exchanged, compared to its average volume of 3,016,024. Bumble Inc. has a one year low of $4.46 and a one year high of $12.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The business's fifty day simple moving average is $6.59 and its two-hundred day simple moving average is $7.17. The firm has a market capitalization of $497.12 million, a PE ratio of -0.96 and a beta of 1.77.

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Wall Street Analysts Forecast Growth

BMBL has been the topic of several research reports. Susquehanna cut their price objective on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Citigroup reduced their price objective on Bumble from $8.00 to $6.80 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada dropped their target price on Bumble from $8.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Finally, Piper Sandler reduced their price target on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.25.

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.