Los Angeles Capital Management LLC Takes $181,000 Position in Bumble Inc. (NASDAQ:BMBL)

Los Angeles Capital Management LLC acquired a new position in Bumble Inc. (NASDAQ:BMBL) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,400 shares of the company’s stock, valued at approximately $181,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Bumble in the first quarter valued at approximately $831,000. Allspring Global Investments Holdings LLC raised its position in shares of Bumble by 13.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock worth $7,434,000 after purchasing an additional 83,397 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Bumble by 300.0% during the first quarter. Janus Henderson Group PLC now owns 163,332 shares of the company’s stock worth $1,854,000 after acquiring an additional 122,504 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Bumble by 8.5% in the first 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. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMBL has been the topic of a number of recent research reports. HSBC reaffirmed a “hold” rating on shares of Bumble in a research report on Friday, August 9th. Morgan Stanley lowered their price objective on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Citigroup increased their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Hsbc Global Res downgraded Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.38.

Bumble Price Performance

Shares of Bumble stock opened at $7.94 on Tuesday. The company has a quick ratio of 2.38, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock’s 50-day simple moving average is $6.96 and its 200-day simple moving average is $8.50. Bumble Inc. has a 52 week low of $4.80 and a 52 week high of $15.90. The company has a market capitalization of $858.95 million, a price-to-earnings ratio of -1.62 and a beta of 1.62.

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.