Militia Capital Partners LP Purchases New Shares in Grindr Inc. $GRND

Key Points

• Militia Capital Partners LP acquired 45,000 shares of Grindr Inc. valued at approximately $806,000 in the 1st quarter.
• Insider Zachary Katz sold 14,693 shares for approximately $282,840, while CFO Vandana Mehta-Krantz sold 56,611 shares worth about $1.33 million.
• Grindr's stock has a current consensus rating of "Buy" and an average price target of $22.60, despite a recent EPS miss from analysts' estimates.

Militia Capital Partners LP purchased a new stake in Grindr Inc. (NYSE:GRND - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,000 shares of the company's stock, valued at approximately $806,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northern Trust Corp boosted its holdings in shares of Grindr by 5.5% in the 4th quarter. Northern Trust Corp now owns 218,384 shares of the company's stock valued at $3,896,000 after purchasing an additional 11,435 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Grindr during the 4th quarter valued at approximately $2,908,000. Bank of America Corp DE boosted its holdings in shares of Grindr by 47.1% during the 4th quarter. Bank of America Corp DE now owns 313,238 shares of the company's stock worth $5,588,000 after buying an additional 100,297 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Grindr by 1,984.5% during the 4th quarter. Deutsche Bank AG now owns 283,701 shares of the company's stock worth $5,061,000 after buying an additional 270,091 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its holdings in shares of Grindr by 46.4% in the 4th quarter. Graham Capital Management L.P. now owns 40,829 shares of the company's stock worth $728,000 after purchasing an additional 12,931 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Zachary Katz sold 14,693 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $19.25, for a total transaction of $282,840.25. Following the completion of the sale, the insider owned 595,112 shares of the company's stock, valued at approximately $11,455,906. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vandana Mehta-Krantz sold 56,611 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $23.47, for a total value of $1,328,660.17. Following the transaction, the chief financial officer owned 752,594 shares of the company's stock, valued at approximately $17,663,381.18. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 169,235 shares of company stock worth $3,570,031 over the last quarter. Company insiders own 67.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 price target on the stock. Wall Street Zen lowered shares of Grindr from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. JMP Securities dropped their price target 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. Finally, Raymond James Financial dropped their price target 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. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Grindr has a consensus rating of "Buy" and an average price target of $22.60.

Grindr Stock Performance

Shares of GRND opened at $16.00 on Friday. The company has a market cap of $3.07 billion, a PE ratio of -36.35 and a beta of 0.24. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $17.77 and a 200-day moving average price of $19.65. Grindr Inc. has a 12-month low of $11.51 and a 12-month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The business had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The business's revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS. As a group, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Grindr Company 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.

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