Canada Pension Plan Investment Board Has $4.40 Million Holdings in Bumble Inc. (NASDAQ:BMBL)

Canada Pension Plan Investment Board decreased its holdings in shares of Bumble Inc. (NASDAQ:BMBL) by 20.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 418,300 shares of the company’s stock after selling 105,500 shares during the period. Canada Pension Plan Investment Board’s holdings in Bumble were worth $4,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BMBL. Vanguard Group Inc. boosted its stake in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after acquiring an additional 613,759 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Bumble during the first quarter worth $937,000. Duality Advisers LP bought a new stake in Bumble in the first quarter valued at about $1,049,000. Goldman Sachs Group Inc. lifted its stake in Bumble by 12.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after buying an additional 397,741 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in Bumble in the first quarter valued at about $1,378,000. 94.85% of the stock is owned by institutional investors.

Bumble Stock Performance

Shares of BMBL stock opened at $6.32 on Thursday. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.90. The company’s fifty day simple moving average is $7.10 and its 200-day simple moving average is $9.45. The firm has a market cap of $799.73 million, a PE ratio of 37.18 and a beta of 1.66. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Equities research analysts expect that Bumble Inc. will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus cut Bumble from a “buy” rating to a “hold” rating and lowered their price target for the company from $13.00 to $6.50 in a research note on Thursday, August 8th. Piper Sandler cut their target price on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada decreased their price target on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, KeyCorp decreased their target price on Bumble from $11.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.62.

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.