In a recent report by the Securities and Exchange Commission (SEC), it has been revealed that Moody National Bank Trust Division has significantly increased its stake in Bumble Inc. The division’s holdings in the popular online dating and social networking platform have surged by 54.4% during the second quarter of this year.
According to the filing, Moody National Bank Trust Division now owns 36,027 shares of Bumble’s stock, representing a substantial increase after purchasing an additional 12,700 shares during the quarter. This indicates a notable display of confidence in the company’s growth potential and future prospects.
As of its most recently reported value, this stake is currently estimated to be worth $605,000. With Bumble’s steady rise in popularity and influence within the online dating industry, it seems that Moody National Bank Trust Division sees considerable value in holding onto these shares.
Bumble Inc. is a prominent provider of online dating and social networking platforms across North America, Europe, and other international markets. The company operates various websites and applications that offer subscription-based services as well as in-app purchases for its dating products.
One of its flagship apps is Bumble itself, which boasts approximately 40 million users on a monthly basis. Another app owned by Bumble Inc. is Badoo, which also enjoys significant traction within the dating sphere. Additionally, the company operates Fruitz—an online dating app catering to specific consumer preferences.
This recent development points to Moody National Bank Trust Division recognizing the strength and potential growth within Bumble Inc.’s operations and market presence. By increasing their stake in the company during such a period of expansion in user base and revenue generation, they have demonstrated their belief in Bumble’s ability to sustain profitability and provide solid returns for investors.
It will be interesting to observe how this heightened stake influences Moody National Bank Trust Division’s investment strategies moving forward. As investors continue to keep a close eye on Bumble Inc.’s performance, this development may spark increased interest in the company’s stock and further contribute to its overall market value.
In conclusion, Moody National Bank Trust Division’s significant increase in stake within Bumble Inc. serves as an indication of their confidence in the company’s trajectory. As Bumble continues to solidify its position as a leading player in the online dating and social networking industry, investors and industry observers alike will undoubtedly monitor its progress with great interest.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
12:00 PM (UTC)
Date:05 December, 2023
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Bumble Inc.: Garnering Attention from Investors and Analysts in the Stock Market
Bumble Inc., the popular online dating platform, has recently attracted attention from institutional investors and hedge funds. Toroso Investments LLC acquired a new position in Bumble during the first quarter, adding to the intrigue surrounding the company. New York State Common Retirement Fund also increased its holdings in shares of Bumble, further heightening investor curiosity.
Furthermore, Prentice Capital Management LP and State Street Corp both made significant investments in Bumble during the first quarter, indicating growing interest in the company’s potential. Sandia Investment Management LP also dipped their toes into the Bumble stock market pool during this period.
The increasing influx of institutional investors and hedge funds into Bumble demonstrates a growing confidence in its ability to generate profits and deliver returns for shareholders. With 94.85% of the stock currently owned by these influential entities, it is clear that they see great potential in Bumble as an investment opportunity.
Analysts have been closely monitoring Bumble’s progress as well. Loop Capital reduced their price target on shares of Bumble recently, while Piper Sandler upped their price target. KeyCorp also adjusted their price target on Bumble’s stock and rated it “overweight.” JPMorgan Chase & Co. and Raymond James also made changes to their price objectives, indicating a mixed sentiment among analysts.
According to Bloomberg.com’s analysis of these ratings, there appears to be a consensus rating of “Moderate Buy” on the stock with an average price target of $25.00.
On Friday, Bumble stock opened at $15.60, revealing its recent decline from previous highs. The company has experienced a 52-week low of $14.73 and a 52-week high of $27.92, demonstrating considerable volatility within that timeframe.
With a fifty-day moving average of $17.35 and a 200-day moving average of $17.79, it remains uncertain whether Bumble will experience an upswing in its stock price. However, its market capitalization of $2.13 billion indicates a significant presence in the market.
When Bumble last released its quarterly earnings data on August 8th, it reported EPS of $0.05, which exceeded the consensus estimate of $0.03 by $0.02. The company also showcased a positive return on equity of 1.82% and recorded revenue of $259.70 million during the quarter.
Despite these positive indicators, Bumble’s net margin remains negative at -8.94%. Analysts anticipate that Bumble Inc. will post an EPS of 0.25 for the current year.
While perplexing and bustling with activity, Bumble Inc.’s journey in the stock market continues to captivate investors and analysts alike. Only time will tell whether this online dating platform will successfully navigate the uncertain terrain ahead and deliver substantial returns for its stakeholders.