Grindr Inc. (NYSE:GRND) Position Trimmed by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 142,879 shares of the company's stock after selling 36,921 shares during the period. Point72 Asset Management L.P. owned about 0.08% of Grindr worth $2,549,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in 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 last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Grindr by 5.6% during the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after purchasing an additional 1,524 shares during the period. Savant Capital LLC grew its stake in Grindr by 9.6% during the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company's stock worth $345,000 after buying an additional 1,689 shares during the last quarter. Finally, 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 period. Institutional investors own 7.22% of the company's stock.

Insider Transactions at Grindr

In related news, Director James Fu Bin Lu sold 200,811 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $24.05, for a total value of $4,829,504.55. Following the completion of the transaction, the director now owns 28,082,445 shares in the company, valued at $675,382,802.25. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of Grindr stock in a transaction dated 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 transaction, the director now directly owns 6,619,727 shares in the company, valued at $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 90 days, insiders have sold 2,054,770 shares of company stock valued at $48,848,167. Corporate insiders own 76.40% of the company's stock.

Grindr Stock Performance

Shares of GRND stock traded up $0.27 during midday trading on Monday, reaching $23.99. 1,392,286 shares of the company were exchanged, compared to its average volume of 1,093,194. The company's 50 day moving average price is $20.37 and its two-hundred day moving average price is $18.08. The company has a market cap of $4.70 billion, a P/E ratio of -68.53 and a beta of 0.28. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $24.80.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. As a group, sell-side analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GRND has been the subject of several analyst reports. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday. Raymond James reissued an "outperform" rating and set a $26.00 target price (up from $22.00) on shares of Grindr in a research note on Friday, May 9th. The Goldman Sachs Group upped their target price 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. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reissued a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a report on Monday, April 21st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.25.

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.