Emmett Investment Management LP bought a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 163,885 shares of the company's stock, valued at approximately $2,924,000. Grindr makes up 2.6% of Emmett Investment Management LP's investment portfolio, making the stock its 17th largest position. Emmett Investment Management LP owned approximately 0.09% of Grindr at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Bwcp LP acquired a new position in Grindr in the fourth quarter valued at approximately $12,088,000. Sellaronda Global Management LP acquired a new position in Grindr in the fourth quarter valued at approximately $10,704,000. Marshall Wace LLP lifted its holdings in Grindr by 85.2% in the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock valued at $19,928,000 after buying an additional 513,770 shares during the period. Federated Hermes Inc. lifted its holdings in Grindr by 101.3% in the fourth quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock valued at $15,450,000 after buying an additional 435,748 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in Grindr in the fourth quarter valued at approximately $7,230,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Grindr
In other news, insider Zachary Katz sold 3,058 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the transaction, the insider now directly owns 613,800 shares in the company, valued at $9,961,974. This represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 8,115 shares of company stock worth $139,397 in the last three months. Insiders own 76.40% of the company's stock.
Grindr Stock Performance
NYSE GRND traded down $0.49 on Friday, reaching $23.96. The company had a trading volume of 3,784,924 shares, compared to its average volume of 1,029,711. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -68.46 and a beta of 0.28. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $24.80. The company's fifty day moving average is $18.89 and its 200-day moving average is $17.36.
Grindr (NYSE:GRND - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Raymond James reaffirmed an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a research note on Friday. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.75.
Check Out Our Latest Report on Grindr
Grindr Company Profile
(
Free Report)
Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.
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