Jefferies Financial Group Inc. Makes New Investment in Grindr Inc. (NYSE:GRND)

Key Points

• Jefferies Financial Group Inc. acquired a $376,000 position in Grindr Inc. by purchasing 21,000 shares in the first quarter.
• Recent analysts' reports show varying price targets for Grindr, with JMP Securities and Citizens Jmp setting a target of $27.00, while Goldman Sachs raised theirs to $26.00.
• Grindr reported $0.08 earnings per share for the most recent quarter, missing expectations, coupled with a 26.6% increase in revenue year-over-year.

Jefferies Financial Group Inc. purchased a new position in Grindr Inc. (NYSE:GRND - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 21,000 shares of the company's stock, valued at approximately $376,000.

Several other large investors have also modified their holdings of GRND. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Grindr in the first quarter worth approximately $197,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Grindr by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company's stock worth $1,808,000 after buying an additional 5,265 shares during the period. First Trust Advisors LP boosted its holdings in shares of Grindr by 11.7% in the fourth quarter. First Trust Advisors LP now owns 95,481 shares of the company's stock valued at $1,703,000 after purchasing an additional 9,968 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Grindr in the fourth quarter valued at approximately $884,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after purchasing an additional 662 shares during the period. Hedge funds and other institutional investors own 7.22% of the company's stock.

Insider Activity

In other news, insider Zachary Katz sold 14,693 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $19.25, for a total transaction of $282,840.25. Following the completion of the sale, the insider owned 595,112 shares in the company, valued at approximately $11,455,906. This represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Michael Gearon, Jr. sold 19,432 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $24.75, for a total value of $480,942.00. Following the sale, the director owned 5,480,568 shares of the company's stock, valued at approximately $135,644,058. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,376,922 shares of company stock worth $80,701,035. Company insiders own 67.70% of the company's stock.

Grindr Stock Down 2.5%

Shares of GRND traded down $0.43 during midday trading on Tuesday, hitting $16.51. 907,162 shares of the company's stock traded hands, compared to its average volume of 1,799,782. Grindr Inc. has a 1 year low of $11.39 and a 1 year high of $25.13. The firm's fifty day moving average is $20.99 and its 200-day moving average is $20.05. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -37.42 and a beta of 0.25.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a negative net margin of 14.41% and a positive return on equity of 132.07%. The business had revenue of $104.00 million for the quarter, compared to analysts' expectations of $104.40 million. During the same quarter in the prior year, the company posted ($0.13) EPS. The business's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GRND shares. Citizens Jmp started coverage on Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price target for the company. The Goldman Sachs Group boosted their price target on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, May 12th. Wall Street Zen lowered Grindr from a "strong-buy" rating to a "buy" rating in a report on Saturday. Raymond James Financial lowered their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a report on Friday. Finally, JMP Securities lowered their price target on Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a report on Monday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grindr currently has an average rating of "Buy" and an average target price of $22.60.

Grindr Company 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.