Grindr Inc. (NYSE:GRND) Stake Boosted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its holdings in Grindr Inc. by 3.9% during the 1st quarter, now owning approximately 0.43% of the company, valued at $16.1 million.
• Grindr's stock has received positive analyst ratings, with several firms issuing "buy" ratings and target prices ranging from $24 to $27, suggesting investor confidence in the company's performance.
• The recent insider transactions show that company directors sold over 4.6 million shares, indicating changes in their personal investment positions while insiders still own 67.70% of the company's stock.

Federated Hermes Inc. increased its position in Grindr Inc. (NYSE:GRND - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 899,912 shares of the company's stock after acquiring an additional 33,854 shares during the period. Federated Hermes Inc. owned approximately 0.43% of Grindr worth $16,108,000 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 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after acquiring an additional 1,719 shares during the period. GAMMA Investing LLC boosted its position in shares of Grindr by 45.5% during the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares during the period. Russell Investments Group Ltd. boosted 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 buying an additional 642 shares during the period. Quarry LP boosted 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 buying an additional 2,316 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings 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 valued at $83,000 after purchasing an additional 3,880 shares during the period. Institutional investors and hedge funds own 7.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GRND. Wall Street Zen upgraded shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Citizens Jmp started coverage on shares of Grindr in a research note on Monday, June 30th. They set an "outperform" rating and a $27.00 price objective on the stock. JMP Securities increased their price target on Grindr from $24.00 to $27.00 and gave the company a "market outperform" rating in a research note on Monday, June 30th. The Goldman Sachs Group boosted their price objective on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $24.60.

Grindr Price Performance

Shares of NYSE:GRND traded up $0.45 on Monday, reaching $17.81. 1,972,763 shares of the company traded hands, compared to its average volume of 1,675,964. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.22 and a quick ratio of 4.22. The stock has a market capitalization of $3.49 billion, a PE ratio of 57.87 and a beta of 0.25. The company's 50 day moving average is $21.80 and its 200-day moving average is $20.04. Grindr Inc. has a fifty-two week low of $10.26 and a fifty-two week high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a positive return on equity of 219.47% and a negative net margin of 26.04%. As a group, analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 14,693 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the sale, the insider directly owned 595,112 shares of the company's stock, valued at $11,455,906. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Michael Gearon, Jr. sold 19,432 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $24.75, for a total value of $480,942.00. Following the completion of the sale, the director directly owned 5,480,568 shares of the company's stock, valued at approximately $135,644,058. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,641,251 shares of company stock valued at $110,831,024 over the last three months. 67.70% of the stock is owned by insiders.

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.