PharVision Advisers LLC Buys New Stake in Grindr Inc. (NYSE:GRND)

PharVision Advisers LLC bought a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,903 shares of the company's stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRND. Bank of New York Mellon Corp raised its position in shares of Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after acquiring an additional 623 shares during the period. Russell Investments Group Ltd. raised its position in shares of Grindr by 31.9% in 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. Bleakley Financial Group LLC raised its position in shares of Grindr by 5.6% in the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after acquiring an additional 1,524 shares during the period. Savant Capital LLC raised its position in shares of Grindr by 9.6% in the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock worth $345,000 after acquiring an additional 1,689 shares during the period. Finally, Quarry LP raised its position in shares of Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after acquiring an additional 2,316 shares during the period. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Stock Down 2.7%

GRND stock opened at $23.71 on Friday. The stock has a market capitalization of $4.64 billion, a P/E ratio of -67.74 and a beta of 0.28. The firm has a 50-day simple moving average of $20.23 and a 200-day simple moving average of $17.96. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $24.80.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

GRND has been the subject of a number of analyst reports. Citigroup reiterated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. 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 research report on Monday, May 12th. Raymond James reiterated an "outperform" rating and issued a $26.00 price objective (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. JMP Securities reissued a "market outperform" rating and set a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Finally, Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grindr presently has an average rating of "Buy" and an average target price of $23.25.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This represents a 0.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $23.71, for a total transaction of $11,855,000.00. Following the sale, the director now directly owns 6,619,727 shares of the company's stock, valued at approximately $156,953,727.17. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,054,770 shares of company stock valued at $48,848,167. Corporate insiders own 76.40% of the company's stock.

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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