Deutsche Bank AG lifted its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 1,984.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,701 shares of the company's stock after purchasing an additional 270,091 shares during the quarter. Deutsche Bank AG owned 0.16% of Grindr worth $5,061,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of GRND. Bank of New York Mellon Corp boosted its stake in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after buying an additional 623 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after buying an additional 642 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Grindr by 5.6% in the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after buying an additional 1,524 shares in the last quarter. Savant Capital LLC boosted its stake in Grindr by 9.6% in the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock worth $345,000 after buying an additional 1,689 shares in the last quarter. Finally, Quarry LP boosted its stake in Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after buying an additional 2,316 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.
Insider Activity at Grindr
In related news, Director J Michael Gearon, Jr. sold 477,570 shares of Grindr stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $23.64, for a total value of $11,289,754.80. Following the completion of the sale, the director now directly owns 5,500,000 shares in the company, valued at approximately $130,020,000. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares of the company's stock, valued at $9,961,974. The trade was a 0.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,054,770 shares of company stock worth $48,848,167 over the last quarter. 76.40% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on GRND. Wall Street Zen raised Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Raymond James reiterated an "outperform" rating and issued a $26.00 price objective (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. JMP Securities reiterated a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a research report on Monday, April 21st. The Goldman Sachs Group boosted their price objective on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Citigroup reiterated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $23.25.
Check Out Our Latest Research Report on GRND
Grindr Stock Performance
Shares of Grindr stock traded up $0.27 during midday trading on Friday, reaching $23.99. 1,392,286 shares of the company's stock traded hands, compared to its average volume of 1,093,194. The company has a market cap of $4.70 billion, a PE ratio of -68.53 and a beta of 0.28. The stock has a 50 day moving average of $20.37 and a 200-day moving average of $18.05. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $24.80.
Grindr (NYSE:GRND - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. On average, equities analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
About Grindr
(
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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