Deutsche Bank AG Purchases 119,121 Shares of Grindr Inc. $GRND

Key Points

• Deutsche Bank AG increased its stake in Grindr Inc. by 42.0%, acquiring an additional 119,121 shares during the 1st quarter, bringing its total holdings to 402,822 shares valued at $7.2 million.
• Grindr recently reported a quarterly earnings miss with $0.08 earnings per share, falling short of estimates by $0.02, despite a 26.6% increase in revenue year-over-year.
• Wall Street analysts maintain a consensus "Buy" rating for Grindr, with target prices ranging significantly, including $20.00 to $27.00 set by various brokerages.

Deutsche Bank AG increased its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 42.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,822 shares of the company's stock after purchasing an additional 119,121 shares during the quarter. Deutsche Bank AG owned approximately 0.19% of Grindr worth $7,211,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. XTX Topco Ltd increased its position in shares of Grindr by 2.8% during the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock worth $305,000 after purchasing an additional 459 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares in the last quarter. GAMMA Investing LLC increased its position in 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 in the last quarter. Bank of New York Mellon Corp increased its position in Grindr by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company's stock valued at $967,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Rhumbline Advisers increased its position 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 acquiring an additional 1,272 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.

Insider Buying and Selling at Grindr

In other news, CFO Vandana Mehta-Krantz sold 43,565 shares of Grindr stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $16.89, for a total transaction of $735,812.85. Following the completion of the sale, the chief financial officer owned 688,047 shares in the company, valued at $11,621,113.83. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Michael Gearon, Jr. sold 19,432 shares of Grindr stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $24.75, for a total transaction of $480,942.00. Following the transaction, the director directly owned 5,480,568 shares in the company, valued at $135,644,058. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,636,104 shares of company stock worth $62,819,311 in the last 90 days. Corporate insiders own 67.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective 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. Wall Street Zen cut shares of Grindr from a "buy" rating to a "hold" rating in a research report on Sunday. Raymond James Financial lowered their price objective on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Citizens Jmp assumed coverage on shares of Grindr in a research report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price objective for the company. Finally, JMP Securities lowered their price objective on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grindr presently has a consensus rating of "Buy" and an average target price of $22.60.

Grindr Trading Down 1.4%

Shares of NYSE:GRND traded down $0.2240 during trading on Wednesday, hitting $15.7460. 2,273,239 shares of the company's stock were exchanged, compared to its average volume of 2,374,445. Grindr Inc. has a 1-year low of $11.39 and a 1-year high of $25.13. The firm has a 50-day moving average price of $20.01 and a two-hundred day moving average price of $19.95. 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 firm has a market cap of $3.02 billion, a P/E ratio of -35.79 and a beta of 0.25.

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 the consensus estimate of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The business had revenue of $104.00 million for the quarter, compared to analyst estimates of $104.40 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm's quarterly revenue was up 26.6% compared to the same quarter last year. Equities analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

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.