Deutsche Bank AG Increases Stock Position in Grindr Inc. (NYSE:GRND)

Deutsche Bank AG increased its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 1,984.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 283,701 shares of the company's stock after buying an additional 270,091 shares during the period. Deutsche Bank AG owned 0.16% of Grindr worth $5,061,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GRND. JPMorgan Chase & Co. boosted its holdings in Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock worth $2,772,000 after buying an additional 93,005 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Grindr by 140.5% during the fourth quarter. SG Americas Securities LLC now owns 155,893 shares of the company's stock worth $2,781,000 after buying an additional 91,077 shares in the last quarter. R Squared Ltd purchased a new stake in Grindr during the fourth quarter worth $101,000. Bleakley Financial Group LLC boosted its holdings in Grindr by 5.6% during 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. Finally, Savant Capital LLC boosted its holdings in Grindr by 9.6% during 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. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Stock Performance

Shares of NYSE GRND traded down $0.67 during mid-day trading on Thursday, reaching $23.71. The company's stock had a trading volume of 1,302,894 shares, compared to its average volume of 1,082,887. The stock has a 50-day moving average of $20.09 and a two-hundred day moving average of $17.89. The stock has a market capitalization of $4.64 billion, a P/E ratio of -67.74 and a beta of 0.28. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $24.80.

Grindr (NYSE:GRND - Get Free Report) last issued 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 net margin of 16.27% and a negative return on equity of 177.83%. Analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRND has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday. Raymond James restated an "outperform" rating and set a $26.00 price objective (up from $22.00) on shares of Grindr in a research report on Friday, May 9th. The Goldman Sachs Group upped their price objective on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $24.00 price objective on shares of Grindr in a research report on Monday, April 21st. Finally, Citigroup restated 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $23.25.

Insider Activity

In related news, Director J Michael Gearon, Jr. sold 477,570 shares of the company's stock in a transaction dated Monday, May 19th. The shares were 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 owns 5,500,000 shares of the company's stock, valued at approximately $130,020,000. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now directly owns 613,800 shares of the company's stock, valued at $9,961,974. This represents a 0.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,054,770 shares of company stock worth $48,848,167 over the last three months. Insiders own 76.40% of the company's stock.

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.