Cubist Systematic Strategies LLC lowered its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 37.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 281,859 shares of the company's stock after selling 172,232 shares during the period. Cubist Systematic Strategies LLC owned 0.16% of Grindr worth $5,028,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in 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 purchasing an additional 642 shares during the period. Quarry LP grew its stake in shares of Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after acquiring an additional 2,316 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Grindr during the fourth quarter valued at about $89,000. R Squared Ltd bought a new position in shares of Grindr during the 4th quarter valued at about $101,000. Finally, Polymer Capital Management HK LTD bought a new stake in shares of Grindr in the 4th quarter worth about $178,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday. JMP Securities reiterated a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, Raymond James restated an "outperform" rating and set a $26.00 price objective (up from $22.00) on shares of Grindr in a research note on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grindr currently has a consensus rating of "Buy" and an average price target of $23.25.
Read Our Latest Report on Grindr
Grindr Stock Performance
GRND traded down $0.11 on Monday, hitting $23.90. 3,249,727 shares of the company were exchanged, compared to its average volume of 1,038,591. The stock's fifty day moving average is $18.89 and its 200-day moving average is $17.36. The company has a market cap of $4.98 billion, a PE ratio of -68.27 and a beta of 0.28. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $24.80.
Grindr (NYSE:GRND - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, equities research analysts expect that Grindr Inc. will post 0.29 EPS for the current fiscal year.
Insider Buying and Selling
In other Grindr news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares of the company's stock, valued at $9,961,974. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 8,115 shares of company stock worth $139,397. 76.40% of the stock is owned by insiders.
About Grindr
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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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