Grindr Inc. (NYSE:GRND) Shares Sold by Sycale Advisors NY LLC

Sycale Advisors NY LLC lowered its stake in Grindr Inc. (NYSE:GRND - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,506 shares of the company's stock after selling 834,683 shares during the period. Grindr makes up approximately 2.3% of Sycale Advisors NY LLC's investment portfolio, making the stock its 17th biggest position. Sycale Advisors NY LLC owned 0.28% of Grindr worth $8,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in Grindr by 31.9% in 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 last quarter. Quarry LP lifted its stake in Grindr by 209.2% in 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 last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Grindr by 511.9% in 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 last quarter. KLP Kapitalforvaltning AS bought a new stake in Grindr in the fourth quarter worth about $89,000. Finally, R Squared Ltd bought a new stake in Grindr in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Stock Performance

Grindr stock traded up $0.06 during mid-day trading on Wednesday, reaching $24.37. 1,405,716 shares of the company were exchanged, compared to its average volume of 1,082,007. The business has a fifty day moving average of $19.94 and a 200 day moving average of $17.84. The firm has a market cap of $4.77 billion, a P/E ratio of -69.62 and a beta of 0.28. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $24.80.

Grindr (NYSE:GRND - Get Free Report) last posted its 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 negative return on equity of 177.83% and a negative net margin of 16.27%. Sell-side analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the transaction, the insider now directly owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Michael Gearon, Jr. sold 477,570 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $23.64, for a total value of $11,289,754.80. Following the completion of the transaction, the director now directly owns 5,500,000 shares in the company, valued at approximately $130,020,000. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,054,770 shares of company stock worth $48,848,167 over the last 90 days. Company insiders own 76.40% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price target on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Raymond James reaffirmed an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research note on Monday, April 21st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $23.25.

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.