BNP Paribas Financial Markets Makes New $2.91 Million Investment in Grindr Inc. (NYSE:GRND)

BNP Paribas Financial Markets bought a new position in Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 163,019 shares of the company's stock, valued at approximately $2,908,000. BNP Paribas Financial Markets owned 0.09% of Grindr as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after purchasing an additional 623 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after buying an additional 642 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Grindr by 5.6% during the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after buying an additional 1,524 shares during the period. Savant Capital LLC increased its stake in shares of Grindr by 9.6% during the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after buying an additional 1,689 shares during the period. Finally, Quarry LP increased its stake in shares of Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after buying an additional 2,316 shares during the period. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Price Performance

GRND opened at $23.54 on Friday. The business's 50-day moving average is $19.49 and its two-hundred day moving average is $17.60. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $24.80. The firm has a market capitalization of $4.90 billion, a PE ratio of -67.26 and a beta of 0.28.

Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, sell-side analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at Grindr

In other news, Director J Michael Gearon, Jr. sold 283,559 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.13, for a total transaction of $6,842,278.67. Following the sale, the director now owns 6,336,168 shares in the company, valued at approximately $152,891,733.84. The trade was a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Zachary Katz sold 3,058 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the sale, the insider now owns 613,800 shares in the company, valued at $9,961,974. The trade was a 0.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,269,387 shares of company stock worth $30,214,361 over the last quarter. Insiders own 76.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GRND. Raymond James restated an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. The Goldman Sachs Group raised their price target on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Monday. JMP Securities restated a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research note on Monday, April 21st. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $23.25.

Grindr Profile

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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