PharVision Advisers LLC bought a new position in Grindr Inc. (NYSE:GRND - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,903 shares of the company's stock, valued at approximately $248,000.
Other institutional investors have also recently bought and sold shares of the company. Bwcp LP acquired a new stake in shares of Grindr in the 4th quarter valued at $12,088,000. Sellaronda Global Management LP acquired a new position in Grindr in the fourth quarter valued at about $10,704,000. Marshall Wace LLP grew its stake in Grindr by 85.2% during the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock worth $19,928,000 after buying an additional 513,770 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Grindr by 101.3% during the fourth quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock worth $15,450,000 after buying an additional 435,748 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Grindr during the fourth quarter worth approximately $7,436,000. Institutional investors and hedge funds own 7.22% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on GRND shares. The Goldman Sachs Group boosted their price objective on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Raymond James 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 reaffirmed a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Grindr has a consensus rating of "Buy" and an average price target of $23.25.
Read Our Latest Stock Analysis on GRND
Grindr Trading Down 0.4%
Shares of NYSE:GRND traded down $0.10 during mid-day trading on Wednesday, reaching $23.76. The stock had a trading volume of 455,259 shares, compared to its average volume of 1,093,502. The firm has a 50 day simple moving average of $20.65 and a two-hundred day simple moving average of $18.18. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $24.80. The firm has a market cap of $4.65 billion, a PE ratio of -67.91 and a beta of 0.28.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, equities analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.
Insider Activity
In related news, Director J Michael Gearon, Jr. sold 107,002 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $23.50, for a total transaction of $2,514,547.00. Following the completion of the transaction, the director now directly owns 5,977,570 shares of the company's stock, valued at approximately $140,472,895. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,452,406 shares of company stock worth $58,385,775 in the last 90 days. Corporate insiders own 76.40% of the company's stock.
About Grindr
(
Free Report)
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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