Westbourne Investment Advisors Inc. Increases Stock Position in Bumble Inc. (NASDAQ:BMBL)

Westbourne Investment Advisors Inc. increased its position in Bumble Inc. (NASDAQ:BMBL - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 486,446 shares of the company's stock after purchasing an additional 75,635 shares during the quarter. Bumble makes up about 1.4% of Westbourne Investment Advisors Inc.'s portfolio, making the stock its 28th biggest position. Westbourne Investment Advisors Inc. owned approximately 0.45% of Bumble worth $3,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMBL. Janney Montgomery Scott LLC purchased a new stake in shares of Bumble during the 4th quarter valued at $214,000. SG Americas Securities LLC grew its position in shares of Bumble by 189.2% during the 4th quarter. SG Americas Securities LLC now owns 32,107 shares of the company's stock valued at $261,000 after acquiring an additional 21,006 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Bumble during the 4th quarter valued at about $56,000. JPMorgan Chase & Co. grew its position in shares of Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock valued at $841,000 after acquiring an additional 2,760 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Bumble during the 3rd quarter valued at about $911,000. Institutional investors own 94.85% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BMBL shares. Wolfe Research cut Bumble from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Morgan Stanley lifted their price objective on Bumble from $7.50 to $8.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Piper Sandler reiterated a "neutral" rating and issued a $8.00 price objective (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their target price 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, fifteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.50.

Bumble Price Performance

Shares of BMBL traded down $0.21 during mid-day trading on Wednesday, reaching $8.23. 1,424,037 shares of the company's stock were exchanged, compared to its average volume of 1,952,495. 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 company has a 50-day simple moving average of $8.05 and a two-hundred day simple moving average of $7.47. Bumble Inc. has a 52-week low of $4.80 and a 52-week high of $14.08. The company has a market cap of $890.32 million, a price-to-earnings ratio of -1.68 and a beta of 1.70.

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.