FDx Advisors Inc. has recently purchased a new stake in Bumble Inc.’s shares, according to the company’s latest 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,578 shares of the dating app provider’s stock in a deal valuing around $202,000. Bumble, which is headquartered in America, Europe and other international markets offers its user base subscriptions and in-app purchases options for their dating products. With two major apps including Badoo and Bumble boasting almost 40 million monthly users combined, alongside an online platform called Fruitz, this unique brand looks set to continue expanding globally.
Multiple analysts have closely analyzed BMBL’s performance as well as growth potential over recent times. Robert W Baird conducted an extensive research report on April 11th predicting massive positivity for the enterprise. Their report issued an “outperform” rating along with an impressive $23 price target for the firm. Furthermore, Wolfe Research’s involvement with monitoring shares of Bumble also saw them suggest a peer perform rating earlier this year on February 23rd. Additionally, UBS Group was optimistic enough to increase their projected expectations for the trading view from $24 to $25 while assigning it a “neutral” rating in February too.
Deutsche Bank Aktiengesellschaft then raided its forecast later that month from $22 to $27 following their research note on January 30th this year indicating serious confidence within their analysis framework towards management performance levels and scalability strategies at hand. Finally, Susquehanna gave an overall cut-down statement concerning where they predict the share value will stand going forward- reducing pessimistically based pricing expectations massively from $30 down to $25 last month alone.
With five out of approximately seventeen research analysts currently favoring a hold perspective over buy or sell predictions regarding outgoing rates elsewhere across global markets (including perspectives derived using Bloomberg.com), BMBL holds a consensus rating that presently stands at “moderate buy” according to the same market analysis. It has an average price target of around $26.65 at present, implying the company should continue to experience slow steady gains in stock value over the coming months and years ahead.
Investment Giants Jockey for Position in Bumble Inc, Stock Beats EPS Estimates.
Investment giants have been jockeying for position in Bumble Inc, with several making significant modifications to their holdings. State Street Corp increased its stake by over 300%, growing to own over 1.7 million shares worth $49.14 million. Marshall Wace LLP also grew its stake by over 250%, now owning more than 1.5 million shares worth $32.89 million. Providence Equity Partners made a new purchase of shares worth roughly $15.45 million, while Invesco Ltd lifted its position by almost 43% and Northern Trust Corp by over 340%. This flurry of activity comes after the company announced that it owns and operates two popular dating apps, Bumble and Badoo, and an online dating app Fruitz, with about 40 million active users on a monthly basis.
BMBL stock opened at $16.73 on Friday, with a quick ratio of 2.50 and a current ratio of the same figure. The company’s market cap stands at $2.30 billion, while its fifty-day simple moving average is $17.96 and its two-hundred-day simple moving average is $21.24; the beta sits at 1.81.Bumble’s earnings report disclosed that it managed to beat earnings per share (EPS) estimates by posting $0.17/share rather than suffering losses as predicted.
Director Matthew S Bromberg sold shares in Bumble twice within this year alone: first on May 10th, where he sold roughly twelve thousand shares for over two hundred thousand dollars in total; then again on March 8th when he divested himself of twelve thousand more shares for just under two hundred thousand dollars’ worth; however, insiders continue to own around about seven-and-a-half-percent of the company’s overall stock.
All in all, Bumble has been steadily increasing its presence as an online dating platform and seems poised for further growth. Its offerings, such as Badoo and Fruitz, mean that it’s not making all of its eggs in one basket, so to speak. With a slew of significant investors making moves on the company, shareholders can keep calm in the knowledge that they’re in good company.
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