QRG Capital Management Inc. Takes $246,000 Position in Bumble Inc. (NASDAQ:BMBL)

QRG Capital Management Inc. acquired a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 38,628 shares of the company’s stock, valued at approximately $246,000.

Other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Bumble during the 2nd quarter worth $24,121,000. Vanguard Group Inc. boosted its holdings in Bumble by 6.0% during the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after buying an additional 613,759 shares in the last quarter. Archon Capital Management LLC acquired a new position in Bumble during the first quarter worth about $6,370,000. Joho Capital LLC purchased a new position in Bumble in the first quarter valued at about $6,242,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Bumble during the 1st quarter valued at approximately $4,563,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Wall Street Analysts Forecast Growth

BMBL has been the topic of a number of research reports. Morgan Stanley lowered their price target on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group raised their price target on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HSBC reiterated a “hold” rating on shares of Bumble in a research report on Friday, August 9th. Bank of America downgraded shares of Bumble from a “buy” rating to an “underperform” rating and dropped their target price for the company from $12.00 to $5.50 in a report on Thursday, August 8th. Finally, Evercore ISI downgraded shares of Bumble from an “outperform” rating to an “inline” rating and reduced their price target for the company from $18.00 to $8.00 in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Bumble has a consensus rating of “Hold” and an average target price of $8.38.

Bumble Trading Up 9.7 %

Shares of BMBL opened at $8.85 on Tuesday. Bumble Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $15.90. The company has a market capitalization of $1.12 billion, a PE ratio of -1.81 and a beta of 1.62. The stock has a fifty day moving average of $6.82 and a two-hundred day moving average of $8.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38.

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.