Quantbot Technologies LP Has $3.70 Million Stock Holdings in Grindr Inc. $GRND

Key Points

• Quantbot Technologies LP increased its stake in Grindr Inc. by 79.1%, holding 206,882 shares worth approximately $3.7 million after acquiring 91,393 additional shares in the first quarter.
• Grindr's CFO and Director conducted significant stock sales, with the CFO selling 56,611 shares and the Director selling 852,567 shares, indicating a decrease in their ownership.
• The company's latest earnings report showed a revenue of $104 million for the quarter, missing estimates slightly, and it recorded a net margin of -14.41%.

Quantbot Technologies LP grew its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 79.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,882 shares of the company's stock after buying an additional 91,393 shares during the quarter. Quantbot Technologies LP owned approximately 0.10% of Grindr worth $3,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Grindr by 23.5% during the 1st quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company's stock worth $30,690,000 after buying an additional 325,996 shares in the last quarter. Nuveen LLC bought a new stake in shares of Grindr in the 1st quarter valued at about $20,049,000. Lord Abbett & CO. LLC raised its holdings in shares of Grindr by 7.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,049,011 shares of the company's stock valued at $18,777,000 after purchasing an additional 74,703 shares during the period. Federated Hermes Inc. raised its holdings in shares of Grindr by 3.9% in the 1st quarter. Federated Hermes Inc. now owns 899,912 shares of the company's stock valued at $16,108,000 after purchasing an additional 33,854 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of Grindr by 37.0% in the 4th quarter. Nuveen Asset Management LLC now owns 792,916 shares of the company's stock valued at $14,146,000 after purchasing an additional 214,102 shares during the period. 7.22% of the stock is owned by institutional investors.

Grindr Stock Performance

Shares of GRND traded down $0.0420 during mid-day trading on Monday, hitting $15.7480. 155,202 shares of the company's stock were exchanged, compared to its average volume of 1,820,318. Grindr Inc. has a 52 week low of $11.39 and a 52 week high of $25.13. The stock's 50-day simple moving average is $19.72 and its 200-day simple moving average is $19.94. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -35.76 and a beta of 0.25. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial dropped their target price on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen cut shares of Grindr from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. JMP Securities dropped their target price on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. The Goldman Sachs Group upped their target price on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Citizens Jmp initiated coverage on shares of Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $22.60.

Insider Transactions at Grindr

In related news, Director James Fu Bin Lu sold 852,567 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $23.93, for a total transaction of $20,401,928.31. Following the sale, the director owned 26,588,867 shares in the company, valued at approximately $636,271,587.31. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vandana Mehta-Krantz sold 56,611 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $23.47, for a total transaction of $1,328,660.17. Following the sale, the chief financial officer owned 752,594 shares in the company, valued at $17,663,381.18. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,105,122 shares of company stock valued at $50,077,399. 67.70% of the stock is currently owned by company insiders.

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.