EntryPoint Capital LLC Purchases New Stake 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 purchased a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 22,601 shares of the company's stock, valued at approximately $405,000.

Several other large investors have also added to or reduced their stakes in GRND. Wells Fargo & Company MN grew its stake in Grindr by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 11,472 shares of the company's stock valued at $205,000 after purchasing an additional 3,911 shares during the last quarter. Russell Investments Group Ltd. boosted its stake 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 buying an additional 642 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Grindr by 721.8% in the fourth quarter. Legal & General Group Plc now owns 22,673 shares of the company's stock worth $404,000 after buying an additional 19,914 shares during the last quarter. Barclays PLC boosted its stake in shares of Grindr by 30.4% in the fourth quarter. Barclays PLC now owns 94,647 shares of the company's stock worth $1,689,000 after buying an additional 22,067 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Grindr in the fourth quarter worth about $296,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Insider Transactions at Grindr

In related news, Director James Fu Bin Lu sold 852,567 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $23.93, for a total value of $20,401,928.31. Following the completion of the sale, the director owned 26,588,867 shares of the company's stock, valued at approximately $636,271,587.31. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vandana Mehta-Krantz sold 56,611 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $23.47, for a total value of $1,328,660.17. Following the completion of the sale, the chief financial officer directly owned 752,594 shares of the company's stock, valued at approximately $17,663,381.18. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,720,527 shares of company stock worth $40,916,886 over the last three months. 67.70% of the stock is owned by insiders.

Grindr Price Performance

NYSE GRND traded up $0.33 during trading hours on Tuesday, reaching $15.94. The company's stock had a trading volume of 314,600 shares, compared to its average volume of 1,822,464. The company's 50-day moving average is $19.56 and its two-hundred day moving average is $19.92. Grindr Inc. has a 1-year low of $11.39 and a 1-year high of $25.13. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -36.23 and a beta of 0.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48.

Grindr (NYSE:GRND - Get Free Report) last announced its earnings results 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 negative net margin of 14.41% and a positive return on equity of 84.93%. The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $104.40 million. During the same period in the previous year, the company earned ($0.13) EPS. Grindr's revenue was up 26.6% compared to the same quarter last year. On average, equities analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

GRND has been the topic of a number of recent research reports. JMP Securities lowered their target price on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Monday, August 11th. The Goldman Sachs Group upped their target price on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Citizens Jmp initiated coverage on Grindr in a research note on Monday, June 30th. They issued an "outperform" rating and a $27.00 target price on the stock. Finally, Raymond James Financial lowered their target price on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grindr has a consensus rating of "Buy" and a consensus 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.