Militia Capital Partners LP Makes New $806,000 Investment 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 position in Grindr Inc. (NYSE:GRND - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,000 shares of the company's stock, valued at approximately $806,000.

A number of other large investors have also recently made changes to their positions in GRND. Northern Trust Corp lifted its stake in shares of Grindr by 5.5% in the fourth quarter. Northern Trust Corp now owns 218,384 shares of the company's stock valued at $3,896,000 after buying an additional 11,435 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Grindr in the fourth quarter valued at $2,908,000. Bank of America Corp DE lifted its stake in shares of Grindr by 47.1% in the fourth quarter. Bank of America Corp DE now owns 313,238 shares of the company's stock valued at $5,588,000 after buying an additional 100,297 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Grindr by 1,984.5% in the fourth quarter. Deutsche Bank AG now owns 283,701 shares of the company's stock valued at $5,061,000 after buying an additional 270,091 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its stake in shares of Grindr by 46.4% in the fourth quarter. Graham Capital Management L.P. now owns 40,829 shares of the company's stock valued at $728,000 after buying an additional 12,931 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GRND. 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 target on the stock. 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. JMP Securities decreased their price objective on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $22.60.

Insider Transactions at Grindr

In other news, CFO Vandana Mehta-Krantz sold 43,565 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $16.89, for a total transaction of $735,812.85. Following the sale, the chief financial officer owned 688,047 shares in the company, valued at $11,621,113.83. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Zachary Katz sold 14,693 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $19.25, for a total value of $282,840.25. Following the completion of the transaction, the insider owned 595,112 shares of the company's stock, valued at $11,455,906. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,932 shares of company stock worth $1,873,100 in the last ninety days. Insiders own 67.70% of the company's stock.

Grindr Price Performance

NYSE GRND traded down $0.26 during trading on Wednesday, reaching $15.48. The company's stock had a trading volume of 329,086 shares, compared to its average volume of 1,822,175. The firm has a fifty day moving average of $17.38 and a 200 day moving average of $19.62. Grindr Inc. has a one year low of $11.51 and a one year high of $25.13. The stock has a market capitalization of $2.97 billion, a PE ratio of -35.22 and a beta of 0.24. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48.

Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The firm had revenue of $104.00 million for 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 company's revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS. Analysts expect that Grindr Inc. will post 0.29 EPS 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.