Cubist Systematic Strategies LLC lowered its stake in Grindr Inc. (NYSE:GRND - Free Report) by 52.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 134,090 shares of the company's stock after selling 147,769 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.06% of Grindr worth $2,400,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd boosted its holdings in shares of Grindr by 2.8% during the first quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock worth $305,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC lifted its holdings in Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after purchasing an additional 662 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Grindr by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company's stock worth $967,000 after purchasing an additional 1,111 shares during the last quarter. Rhumbline Advisers boosted its stake in Grindr by 3.0% in the 1st quarter. Rhumbline Advisers now owns 43,043 shares of the company's stock valued at $770,000 after purchasing an additional 1,272 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings in Grindr by 5.4% in the 1st quarter. Bleakley Financial Group LLC now owns 30,260 shares of the company's stock valued at $542,000 after buying an additional 1,548 shares in the last quarter. 7.22% of the stock is owned by institutional investors.
Insider Buying and Selling at Grindr
In other Grindr news, insider Zachary Katz sold 14,693 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $19.25, for a total value 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 trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vandana Mehta-Krantz sold 43,565 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $16.89, for a total value of $735,812.85. Following the transaction, the chief financial officer directly owned 688,047 shares of the company's stock, valued at $11,621,113.83. This trade represents a 5.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 169,235 shares of company stock valued at $3,570,031 over the last 90 days. Corporate insiders own 67.70% of the company's stock.
Grindr Trading Up 1.2%
Shares of Grindr stock opened at $15.29 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. Grindr Inc. has a 12-month low of $11.47 and a 12-month high of $25.13. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -34.74 and a beta of 0.24. The firm's 50-day moving average price is $18.31 and its two-hundred day moving average price is $19.74.
Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share 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 positive return on equity of 84.93% and a negative net margin of 14.41%.The business's revenue was up 26.6% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS. On average, analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on GRND shares. Raymond James Financial dropped their target price on Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Citizens Jmp initiated coverage on shares of Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 price target on the stock. Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. JMP Securities decreased their target price on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, August 11th. Finally, The Goldman Sachs Group lifted their price target on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $22.60.
View Our Latest Analysis on Grindr
Grindr 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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