Granite Investment Partners LLC Has $8.07 Million Stock Position in Bumble Inc. (NASDAQ:BMBL)

Granite Investment Partners LLC cut its position in Bumble Inc. (NASDAQ:BMBL) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 767,709 shares of the company’s stock after selling 98,134 shares during the period. Granite Investment Partners LLC’s holdings in Bumble were worth $8,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMBL. Clearbridge Investments LLC raised its position in shares of Bumble by 2.7% during the fourth quarter. Clearbridge Investments LLC now owns 51,649 shares of the company’s stock worth $761,000 after purchasing an additional 1,369 shares during the period. ProShare Advisors LLC increased its stake in Bumble by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock valued at $206,000 after purchasing an additional 1,430 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Bumble by 73.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after buying an additional 2,210 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bumble by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company’s stock valued at $734,000 after buying an additional 3,683 shares during the last quarter. Finally, Equitable Trust Co. increased its position in shares of Bumble by 25.7% during the first quarter. Equitable Trust Co. now owns 20,605 shares of the company’s stock worth $234,000 after acquiring an additional 4,211 shares in the last quarter. 94.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMBL. HSBC reiterated a “hold” rating on shares of Bumble in a research note on Friday, August 9th. BTIG Research downgraded Bumble from a “buy” rating to a “neutral” rating 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. KeyCorp cut their price objective on shares of Bumble from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Wolfe Research assumed coverage on shares of Bumble in a research report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.62.

Bumble Trading Up 3.1 %

Shares of BMBL opened at $6.40 on Friday. Bumble Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $15.90. The business has a 50-day moving average of $7.42 and a 200 day moving average of $9.61. The firm has a market cap of $807.67 million, a P/E ratio of 37.65 and a beta of 1.66. 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 (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. During the same quarter last year, the company earned $0.05 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Bumble Inc. will post 0.83 EPS for the current year.

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.