EntryPoint Capital LLC Takes $405,000 Position in Grindr Inc. $GRND

Key Points

• EntryPoint Capital LLC acquired a new stake in Grindr Inc., purchasing 22,601 shares valued at approximately $405,000 during the first quarter.
• Insider transactions include CFO Vandana Mehta-Krantz selling 43,565 shares at about $16.89 each, and Director J Michael Gearon, Jr. selling 19,432 shares at $24.75 each, reflecting a significant level of insider selling recently.
• Grindr's stock has been rated with a consensus of "Buy" and analysts project an average target price of $22.60, despite the company missing quarterly earnings estimates.

EntryPoint Capital LLC acquired a new position in Grindr Inc. (NYSE:GRND - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 22,601 shares of the company's stock, valued at approximately $405,000.

Other large investors have also modified their holdings of the company. CWM LLC raised its position in shares of Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after acquiring an additional 1,719 shares during the period. GAMMA Investing LLC raised its position in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after acquiring an additional 662 shares during the period. Russell Investments Group Ltd. raised its position in shares of 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 acquiring an additional 642 shares during the period. Quarry LP raised its position in shares of Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after acquiring an additional 2,316 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Grindr by 511.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after acquiring an additional 3,880 shares during the period. Institutional investors and hedge funds own 7.22% of the company's stock.

Insider Activity

In other news, Director Daniel Brooks Baer sold 2,435 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $24.00, for a total value of $58,440.00. Following the completion of the sale, the director owned 24,693 shares of the company's stock, valued at $592,632. This represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J Michael Gearon, Jr. sold 19,432 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $24.75, for a total transaction of $480,942.00. Following the completion of the sale, the director directly owned 5,480,568 shares of the company's stock, valued at approximately $135,644,058. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,105,122 shares of company stock worth $50,077,399. Corporate insiders own 67.70% of the company's stock.

Grindr Price Performance

GRND stock traded down $0.10 during mid-day trading on Monday, reaching $15.69. The company's stock had a trading volume of 512,789 shares, compared to its average volume of 1,822,354. The stock has a market cap of $3.01 billion, a PE ratio of -35.36 and a beta of 0.25. 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 fifty-two week low of $11.39 and a fifty-two week high of $25.13. The company's 50 day moving average is $19.72 and its two-hundred day moving average is $19.94.

Grindr (NYSE:GRND - Get Free Report) last released 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). The business had revenue of $104.00 million during the quarter, compared to analyst estimates of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The firm's revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) EPS. Equities research analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

GRND has been the subject of several research analyst reports. Raymond James Financial reduced their price target 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. Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. 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 for the company. The Goldman Sachs Group upped their price target 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. Finally, JMP Securities reduced their price target 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $22.60.

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.