Grindr Inc. $GRND Holdings Lowered by HC Advisors LLC

Key Points

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HC Advisors LLC cut its position in Grindr Inc. (NYSE:GRND - Free Report) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,184 shares of the company's stock after selling 52,528 shares during the period. Grindr accounts for 3.6% of HC Advisors LLC's investment portfolio, making the stock its 8th largest holding. HC Advisors LLC owned approximately 0.13% of Grindr worth $4,800,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. XTX Topco Ltd grew its position in shares of Grindr by 2.8% in the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock valued at $305,000 after buying an additional 459 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after buying an additional 642 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after buying an additional 662 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Grindr by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company's stock valued at $967,000 after buying an additional 1,111 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Grindr by 3.0% in the 1st quarter. Rhumbline Advisers now owns 43,043 shares of the company's stock valued at $770,000 after buying an additional 1,272 shares during the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GRND. Raymond James Financial dropped their target price on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. JMP Securities lowered their price objective on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, August 11th. The Goldman Sachs Group raised their price objective 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. Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Citizens Jmp began coverage on shares of Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $22.60.

Insider Activity

In other news, Director Daniel Brooks Baer sold 2,435 shares of Grindr stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $24.00, for a total value of $58,440.00. Following the sale, the director owned 24,693 shares of the company's stock, valued at $592,632. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Michael Gearon, Jr. sold 19,432 shares of Grindr stock in a transaction dated 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 in the company, valued at approximately $135,644,058. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,105,122 shares of company stock worth $50,077,399 in the last ninety days. 67.70% of the stock is currently owned by insiders.

Grindr Stock Performance

Shares of NYSE:GRND traded up $0.0750 during midday trading on Friday, hitting $15.8150. The stock had a trading volume of 2,042,877 shares, compared to its average volume of 2,411,952. The company has a market capitalization of $3.04 billion, a PE ratio of -35.94 and a beta of 0.25. The stock has a 50 day moving average price of $19.72 and a two-hundred day moving average price of $19.94. 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 1 year low of $11.39 and a 1 year high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $104.00 million during the quarter, compared to analysts' expectations 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 period in the previous year, the firm earned ($0.13) EPS. As a group, equities analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

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.