Counterpoint Mutual Funds LLC Takes $3.10 Million Position in Bumble Inc. $BMBL

Counterpoint Mutual Funds LLC purchased a new position in shares of Bumble Inc. (NASDAQ:BMBL) during the third quarter, HoldingsChannel reports. The firm purchased 509,758 shares of the company’s stock, valued at approximately $3,104,000. Bumble comprises 0.2% of Counterpoint Mutual Funds LLC’s portfolio, making the stock its 15th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in Bumble by 16.7% in the 2nd quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock valued at $132,000 after purchasing an additional 2,857 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Bumble by 14.4% in the 3rd quarter. Arizona State Retirement System now owns 26,419 shares of the company’s stock valued at $161,000 after buying an additional 3,317 shares during the period. Quantbot Technologies LP boosted its stake in shares of Bumble by 4.1% in the second quarter. Quantbot Technologies LP now owns 102,964 shares of the company’s stock valued at $679,000 after buying an additional 4,093 shares in the last quarter. Swiss National Bank grew its holdings in Bumble by 3.0% during the second quarter. Swiss National Bank now owns 151,200 shares of the company’s stock worth $996,000 after acquiring an additional 4,400 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Bumble by 31.1% during the second quarter. New York State Common Retirement Fund now owns 25,631 shares of the company’s stock worth $169,000 after acquiring an additional 6,077 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Down 8.6%

Shares of BMBL opened at $2.77 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.55 and a quick ratio of 3.55. Bumble Inc. has a 1-year low of $2.61 and a 1-year high of $8.64. The stock has a market cap of $312.29 million, a price-to-earnings ratio of 2.47, a price-to-earnings-growth ratio of 0.11 and a beta of 1.95. The firm has a 50 day simple moving average of $3.39 and a 200-day simple moving average of $4.69.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Susquehanna reduced their target price on Bumble from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Monday, November 10th. Morgan Stanley reduced their price objective on shares of Bumble from $6.00 to $3.50 and set an “equal weight” rating for the company in a research note on Wednesday, November 19th. Zacks Research downgraded shares of Bumble from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Evercore dropped their target price on shares of Bumble from $7.00 to $5.00 and set an “in-line” rating for the company in a report on Thursday, November 6th. Finally, Jefferies Financial Group decreased their price target on Bumble from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $4.60.

About Bumble

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.