Penserra Capital Management LLC Invests $1.96 Million in Grindr Inc. (NYSE:GRND)

Penserra Capital Management LLC purchased a new stake in Grindr Inc. (NYSE:GRND - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 109,236 shares of the company's stock, valued at approximately $1,955,000. Penserra Capital Management LLC owned 0.05% of Grindr at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in 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 purchasing an additional 662 shares during the period. Russell Investments Group Ltd. lifted its holdings in 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 acquiring an additional 642 shares during the period. Quarry LP increased its position 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 buying an additional 2,316 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position 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 buying an additional 3,880 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Grindr in the fourth quarter valued at $89,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Insider Buying and Selling at Grindr

In other news, Director James Fu Bin Lu sold 852,567 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $23.93, for a total value of $20,401,928.31. Following the completion of the transaction, the director owned 26,588,867 shares in the company, valued at $636,271,587.31. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J Michael Gearon, Jr. sold 500,000 shares of Grindr stock in a transaction on Monday, May 12th. The stock was sold at an average price of $23.71, for a total value of $11,855,000.00. Following the completion of the sale, the director directly owned 6,619,727 shares of the company's stock, valued at $156,953,727.17. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,610,866 shares of company stock valued at $110,193,788 in the last 90 days. Company insiders own 67.70% of the company's stock.

Grindr Stock Down 0.1%

Shares of NYSE GRND traded down $0.02 during mid-day trading on Tuesday, hitting $22.12. 1,397,970 shares of the stock traded hands, compared to its average volume of 1,185,893. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.22 and a current ratio of 4.22. Grindr Inc. has a 52 week low of $10.26 and a 52 week high of $25.13. The company has a market cap of $4.33 billion, a price-to-earnings ratio of -34.03 and a beta of 0.28. The stock has a fifty day moving average price of $23.20 and a 200-day moving average price of $19.73.

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

Analysts Set New Price Targets

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

About Grindr

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.