Algert Global LLC Has $591,000 Stock Holdings in Grindr Inc. $GRND

Key Points

• Algert Global LLC reduced its stake in Grindr Inc. by 81.1%, owning 33,010 shares valued at $591,000 after selling 141,565 shares in the first quarter.
• The recent quarterly earnings results for Grindr showed an EPS of $0.08, below analyst expectations, and revenue of $104 million, indicating a 26.6% increase compared to the previous year.
• Analysts have given Grindr a consensus rating of "Buy" with a target price averaging $22.60, despite varying individual ratings and price targets from different firms.

Algert Global LLC trimmed its position in Grindr Inc. (NYSE:GRND - Free Report) by 81.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 33,010 shares of the company's stock after selling 141,565 shares during the period. Algert Global LLC's holdings in Grindr were worth $591,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GRND. CWM LLC lifted its stake in shares of Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after acquiring an additional 1,719 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after acquiring an additional 662 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after acquiring an additional 642 shares during the last quarter. Quarry LP lifted its stake in shares of Grindr by 209.2% in the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Grindr by 511.9% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after acquiring an additional 3,880 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors.

Grindr Stock Performance

Shares of GRND opened at $15.8150 on Friday. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $3.04 billion, a P/E ratio of -35.94 and a beta of 0.25. The firm's fifty day simple moving average is $19.72 and its two-hundred day simple moving average is $19.93. Grindr Inc. has a 12 month low of $11.39 and a 12 month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The firm had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The business's revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company posted ($0.13) EPS. As a group, analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

GRND has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Raymond James Financial cut their price target on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. JMP Securities decreased their price objective on Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a report on Monday, August 11th. Citizens Jmp initiated coverage on Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price objective for the company. Finally, Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.60.

Insider Activity

In other Grindr news, insider Zachary Katz sold 14,693 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the sale, the insider owned 595,112 shares of the company's stock, valued at approximately $11,455,906. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Brooks Baer sold 2,435 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $24.00, for a total transaction of $58,440.00. Following the sale, the director directly owned 24,693 shares in the company, valued at $592,632. This trade represents a 8.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,105,122 shares of company stock worth $50,077,399. 67.70% of the stock is owned by insiders.

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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