Jane Street Group LLC trimmed its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,257 shares of the company's stock after selling 49,974 shares during the quarter. Jane Street Group LLC owned about 0.06% of Grindr worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in Grindr by 31.9% during the 4th 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 last quarter. Quarry LP raised its stake in Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after acquiring an additional 2,316 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Grindr during the 4th quarter worth $89,000. R Squared Ltd bought a new position in shares of Grindr in the fourth quarter worth $101,000. Finally, Polymer Capital Management HK LTD bought a new position in shares of Grindr in the fourth quarter worth $178,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.
Grindr Trading Up 0.2%
GRND stock traded up $0.06 during trading hours on Wednesday, hitting $24.37. 1,405,716 shares of the stock traded hands, compared to its average volume of 1,078,692. The stock has a 50-day simple moving average of $19.94 and a 200 day simple moving average of $17.84. The company 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 one year low of $8.95 and a one year high of $24.80.
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, meeting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. Analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Zachary Katz sold 3,058 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the sale, the insider now owns 613,800 shares in the company, valued at $9,961,974. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $23.71, for a total transaction of $11,855,000.00. Following the completion of the transaction, the director now directly owns 6,619,727 shares of the company's stock, valued at $156,953,727.17. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,054,770 shares of company stock worth $48,848,167. Corporate insiders own 76.40% of the company's stock.
Analyst Ratings Changes
GRND has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 price target on shares of Grindr in a research note on Monday, April 21st. Finally, Raymond James reiterated an "outperform" rating and set a $26.00 price objective (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, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $23.25.
Get Our Latest Analysis on Grindr
Grindr Profile
(
Free Report)
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.
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