Massachusetts Financial Services Co. MA Sells 23,234 Shares of Bumble Inc. (NASDAQ:BMBL)

Massachusetts Financial Services Co. MA decreased its holdings in Bumble Inc. (NASDAQ:BMBL) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,440,629 shares of the company’s stock after selling 23,234 shares during the period. Massachusetts Financial Services Co. MA owned about 2.87% of Bumble worth $171,963,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BMBL. Evolution Wealth Advisors LLC boosted its stake in shares of Bumble by 120.8% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 680 shares of the company’s stock worth $34,000 after buying an additional 372 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Bumble in the second quarter worth about $46,000. Geneos Wealth Management Inc. increased its stake in Bumble by 405.4% during the third quarter. Geneos Wealth Management Inc. now owns 935 shares of the company’s stock worth $47,000 after acquiring an additional 750 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Bumble during the third quarter worth approximately $52,000. Finally, Deutsche Bank AG bought a new stake in Bumble during the second quarter worth approximately $152,000.

Bumble stock opened at $33.25 on Friday. The stock has a market cap of $4.30 billion and a P/E ratio of 21.31. The company has a fifty day simple moving average of $35.41 and a 200-day simple moving average of $46.38. Bumble Inc. has a 12-month low of $29.60 and a 12-month high of $84.80. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.25.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.03). The firm had revenue of $200.51 million for the quarter, compared to analysts’ expectations of $197.53 million. Bumble had a negative return on equity of 2.58% and a net margin of 41.61%. As a group, sell-side analysts forecast that Bumble Inc. will post 0.04 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Bumble from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 11th. Wolfe Research lowered their target price on Bumble from $50.00 to $46.00 and set a “peer perform” rating for the company in a report on Thursday, November 11th. Piper Sandler initiated coverage on Bumble in a report on Wednesday. They set a “neutral” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. raised Bumble from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Tuesday, December 7th. Finally, Raymond James raised Bumble from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Monday, November 29th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Bumble has an average rating of “Buy” and an average target price of $57.94.

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 credit-based dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis.

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Institutional Ownership by Quarter for Bumble (NASDAQ:BMBL)

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