Grindr Inc. $GRND is HC Advisors LLC's 8th Largest Position

Key Points

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HC Advisors LLC reduced its position in Grindr Inc. (NYSE:GRND - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 268,184 shares of the company's stock after selling 52,528 shares during the quarter. Grindr comprises about 3.6% of HC Advisors LLC's portfolio, making the stock its 8th largest position. HC Advisors LLC owned about 0.13% of Grindr worth $4,800,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its holdings in Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after buying an additional 1,719 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the period. Quarry LP raised its position in shares of Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after purchasing an additional 2,316 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after purchasing an additional 3,880 shares during the period. 7.22% of the stock is owned by institutional investors.

Grindr Stock Performance

Shares of Grindr stock traded up $0.0750 during trading on Friday, hitting $15.8150. 2,042,877 shares of the company's stock traded hands, compared to its average volume of 2,433,191. 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 Inc. has a 1 year low of $11.39 and a 1 year high of $25.13. The stock has a market capitalization of $3.04 billion, a P/E ratio of -35.94 and a beta of 0.25. The business has a 50-day simple moving average of $19.72 and a 200-day simple moving average of $19.92.

Grindr (NYSE:GRND - Get Free Report) last posted 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). The company had revenue of $104.00 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. As a group, analysts forecast that Grindr Inc. will post 0.29 EPS for the current year.

Insider Activity at Grindr

In related news, Director James Fu Bin Lu sold 852,567 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $23.93, for a total value of $20,401,928.31. Following the transaction, the director owned 26,588,867 shares of the company's stock, valued at $636,271,587.31. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vandana Mehta-Krantz sold 56,611 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $23.47, for a total transaction of $1,328,660.17. Following the completion of the transaction, the chief financial officer owned 752,594 shares of the company's stock, valued at $17,663,381.18. This represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,105,122 shares of company stock valued at $50,077,399. Corporate insiders own 67.70% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the subject of several recent research reports. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. 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. Raymond James Financial reduced their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Citizens Jmp initiated coverage on Grindr in a research note on Monday, June 30th. They set an "outperform" rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group raised their price target on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Grindr has a consensus rating of "Buy" and a consensus target price of $22.60.

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.