Trexquant Investment LP Boosts Holdings in Grindr Inc. $GRND

Key Points

• Trexquant Investment LP increased its stake in Grindr Inc. by 574.6% during the first quarter, owning 224,931 shares after acquiring an additional 191,589 shares.
• Grindr reported earnings of $0.08 per share, falling short of analysts' expectations by $0.02, while revenue for the quarter reached $104 million, up 26.6% year-over-year.
• Analysts have mixed views on Grindr's stock, with a current consensus rating of "Buy" and an average target price of $22.60, despite Raymond James recently cutting their target price from $26.00 to $20.00.

Trexquant Investment LP grew its position in Grindr Inc. (NYSE:GRND - Free Report) by 574.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,931 shares of the company's stock after acquiring an additional 191,589 shares during the quarter. Trexquant Investment LP owned about 0.11% of Grindr worth $4,026,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC increased its holdings in shares of Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after purchasing an additional 1,719 shares during the period. GAMMA Investing LLC increased its holdings in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after purchasing an additional 662 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 valued at $83,000 after purchasing an additional 3,880 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Grindr in the first quarter valued at approximately $197,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Grindr by 51.7% in the fourth 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 period. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Price Performance

Shares of NYSE:GRND traded up $0.16 during midday trading on Friday, hitting $15.27. 838,647 shares of the stock were exchanged, compared to its average volume of 1,813,340. The stock has a market cap of $2.93 billion, a P/E ratio of -34.70 and a beta of 0.24. 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 twelve month low of $11.47 and a twelve month high of $25.13. The company has a 50 day moving average price of $18.44 and a 200-day moving average price of $19.75.

Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The company's quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. On average, research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Citizens Jmp assumed coverage on Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 target price on the stock. JMP Securities dropped their price objective on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. The Goldman Sachs Group upped their price objective on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Raymond James Financial dropped their price objective on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.60.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 14,693 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $19.25, for a total value of $282,840.25. Following the sale, the insider directly owned 595,112 shares in the company, valued at $11,455,906. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vandana Mehta-Krantz sold 43,565 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $16.89, for a total value of $735,812.85. Following the completion of the sale, the chief financial officer owned 688,047 shares in the company, valued at $11,621,113.83. This represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,235 shares of company stock worth $3,570,031 over the last 90 days. Company insiders own 67.70% of the company's stock.

About Grindr

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.