Grindr Inc. $GRND Shares Purchased by SPX Gestao de Recursos Ltda

Key Points

• SPX Gestao de Recursos boosted its stake in Grindr by 321.1% in Q3, buying an additional 135,200 shares to hold 177,300 shares (~0.09%) valued at $2.66 million.
• Major shareholder James Fu Bin Lu sold 600,000 shares on Feb. 5 at $10.07 ($6.04M), and insiders have sold 3,559,766 shares in the past three months while corporate insiders still own 67.70% of the company.
• Wall Street shows a mixed but generally positive view with a consensus rating of "Moderate Buy" and an average price target of $18.80 (four Buys, two Holds), compared with the recent share price near $11.64.

SPX Gestao de Recursos Ltda increased its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 321.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,300 shares of the company's stock after buying an additional 135,200 shares during the quarter. SPX Gestao de Recursos Ltda owned about 0.09% of Grindr worth $2,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GRND. EverSource Wealth Advisors LLC increased its stake in shares of Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. acquired a new stake in Grindr during the 2nd quarter worth about $39,000. Aster Capital Management DIFC Ltd raised its stake in shares of Grindr by 190.7% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company's stock valued at $57,000 after buying an additional 2,488 shares during the last quarter. Huntington National Bank acquired a new position in shares of Grindr in the 2nd quarter valued at about $64,000. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company's stock worth $77,000 after buying an additional 1,002 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Grindr news, major shareholder James Fu Bin Lu sold 600,000 shares of the firm's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.07, for a total value of $6,042,000.00. Following the transaction, the insider owned 18,907,101 shares in the company, valued at approximately $190,394,507.07. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 3,559,766 shares of company stock valued at $40,166,264. 67.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley started coverage on Grindr in a research report on Tuesday, February 24th. They issued an "equal weight" rating and a $14.00 price objective on the stock. Citizens Jmp decreased their price objective on shares of Grindr from $23.00 to $21.00 and set a "market outperform" rating for the company in a research report on Monday, November 10th. Weiss Ratings raised shares of Grindr from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday. TD Cowen cut their price target on Grindr from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group cut their price objective on Grindr from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.80.

Grindr Trading Up 0.1%

Shares of Grindr stock opened at $11.64 on Friday. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $25.13. The firm's 50-day moving average price is $11.73 and its 200 day moving average price is $13.39. The company has a current ratio of 1.96, a quick ratio of 0.82 and a debt-to-equity ratio of 8.00. The firm has a market capitalization of $2.15 billion, a PE ratio of -31.46 and a beta of 0.23.

Grindr Profile

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.

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