Petrus Trust Company LTA Acquires Shares of 65,170 Grindr Inc. $GRND

Key Points

• Petrus Trust Company LTA has made a new investment in Grindr Inc., purchasing 65,170 shares valued at approximately $1.17 million, making Grindr its 26th largest holding.
• Institutional investors' interest in Grindr is evident as CWM LLC increased its stake by 838.5% in the first quarter, joining other firms that have also significantly raised their investments.
• Grindr's recent earnings report showed a 26.6% revenue increase year-over-year, though it missed earnings estimates with a reported EPS of $0.08, compared to the expected $0.10.

Petrus Trust Company LTA bought a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 65,170 shares of the company's stock, valued at approximately $1,167,000. Grindr accounts for about 0.1% of Petrus Trust Company LTA's investment portfolio, making the stock its 26th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRND. Nuveen LLC acquired a new position in Grindr during the first quarter worth $20,049,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Grindr in the first quarter valued at $14,320,000. Bwcp LP increased its position in shares of Grindr by 61.8% in the first quarter. Bwcp LP now owns 1,096,586 shares of the company's stock valued at $19,629,000 after buying an additional 418,994 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Grindr in the fourth quarter valued at $7,436,000. Finally, Vanguard Group Inc. lifted its stake in Grindr by 23.5% in the 1st quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company's stock valued at $30,690,000 after buying an additional 325,996 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.

Grindr Trading Down 0.4%

Shares of Grindr stock traded down $0.07 during trading hours on Tuesday, reaching $15.62. 2,659,488 shares of the company's stock were exchanged, compared to its average volume of 1,843,490. Grindr Inc. has a 52-week low of $11.51 and a 52-week high of $25.13. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -35.49 and a beta of 0.24. The company has a fifty day moving average of $18.04 and a 200-day moving average of $19.70. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43.

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

Insider Buying and Selling at Grindr

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

Analyst Ratings Changes

A number of research firms recently issued reports on GRND. Raymond James Financial reduced their target price on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. JMP Securities reduced their target price on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Monday, August 11th. Citizens Jmp began coverage on Grindr in a research note on Monday, June 30th. They issued an "outperform" rating and a $27.00 target price on the stock. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, The Goldman Sachs Group increased their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.60.

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.