Deutsche Bank AG Buys 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 stake in Grindr Inc. (NYSE:GRND - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 402,822 shares of the company's stock after purchasing an additional 119,121 shares during the period. Deutsche Bank AG owned 0.19% of Grindr worth $7,211,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CWM LLC lifted its holdings in shares of Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Grindr by 45.5% in 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. Russell Investments Group Ltd. lifted its holdings 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 worth $47,000 after purchasing an additional 642 shares during the last quarter. Quarry LP lifted its holdings in shares of Grindr by 209.2% in the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings 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 worth $83,000 after purchasing an additional 3,880 shares during the last quarter. Institutional investors own 7.22% of the company's stock.

Grindr Stock Performance

NYSE:GRND traded down $0.72 during mid-day trading on Tuesday, hitting $15.93. 711,000 shares of the company's stock traded hands, compared to its average volume of 1,820,777. The firm has a 50 day moving average of $20.31 and a two-hundred day moving average of $20.00. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. Grindr Inc. has a 12 month low of $11.39 and a 12 month high of $25.13. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -36.19 and a beta of 0.25.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $104.00 million during the quarter, compared to the consensus estimate of $104.40 million. During the same quarter in the prior year, the business posted ($0.13) EPS. Grindr's revenue was up 26.6% compared to the same quarter last year. On average, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citizens Jmp assumed coverage on Grindr in a research note on Monday, June 30th. They set an "outperform" rating and a $27.00 target price on the stock. JMP Securities lowered their price target on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, August 11th. Wall Street Zen cut Grindr from a "buy" rating to a "hold" rating in a research report on Sunday. The Goldman Sachs Group lifted their price target on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Raymond James Financial lowered their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Grindr has a consensus rating of "Buy" and an average price target of $22.60.

Insider Transactions at Grindr

In related news, Director Daniel Brooks Baer sold 2,435 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $24.00, for a total transaction of $58,440.00. Following the completion of the transaction, the director owned 24,693 shares in the company, valued at $592,632. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Michael Gearon, Jr. sold 19,432 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $24.75, for a total value of $480,942.00. Following the transaction, the director owned 5,480,568 shares of the company's stock, valued at $135,644,058. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,636,104 shares of company stock worth $62,819,311 over the last 90 days. Insiders own 67.70% of the company's stock.

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.