SG Americas Securities LLC Has $2.94 Million Stock Position in Grindr Inc. $GRND

Key Points

• SG Americas Securities LLC cut its stake in Grindr by 50.7% in Q4, selling 223,514 shares and leaving it with 217,053 shares worth about $2.94 million.
• Company insiders own 67.70% of Grindr and have been net sellers recently — major shareholder James Fu Bin Lu sold 600,000 shares (≈$6.04M) and insiders disposed of 3,412,144 shares (~$38.14M) over the past 90 days.
• Analysts give Grindr a consensus rating of "Moderate Buy" with a consensus price target of $18.80, though recent notes are mixed (e.g., Goldman cut its target to $17 while TD Cowen keeps a buy view with a $22 target and Morgan Stanley is at equal weight / $14).

SG Americas Securities LLC lowered its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,053 shares of the company's stock after selling 223,514 shares during the quarter. SG Americas Securities LLC owned approximately 0.12% of Grindr worth $2,939,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Grindr by 33.6% in the third quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company's stock valued at $5,199,000 after acquiring an additional 87,076 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Grindr during the 3rd quarter valued at about $26,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company's stock valued at $20,746,000 after purchasing an additional 1,058,084 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Grindr by 144.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company's stock valued at $15,675,000 after purchasing an additional 615,900 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new stake in shares of Grindr during the 3rd quarter worth approximately $249,000. Institutional investors own 7.22% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their price target on shares of Grindr from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Weiss Ratings raised shares of Grindr from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Morgan Stanley initiated coverage on shares of Grindr in a research report on Tuesday, February 24th. They set an "equal weight" rating and a $14.00 target price for the company. Finally, TD Cowen cut their price target on Grindr from $26.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Grindr has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

Insiders Place Their Bets

In related news, major shareholder James Fu Bin Lu sold 600,000 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $10.07, for a total transaction of $6,042,000.00. Following the completion of the transaction, the insider owned 18,907,101 shares in the company, valued at approximately $190,394,507.07. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 3,412,144 shares of company stock worth $38,140,692. 67.70% of the stock is owned by company insiders.

Grindr Price Performance

Grindr stock opened at $12.17 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 8.00. The firm has a market capitalization of $2.25 billion, a P/E ratio of 28.31 and a beta of 0.21. The business has a 50-day moving average of $11.50 and a 200-day moving average of $12.93. Grindr Inc. has a 1 year low of $9.73 and a 1 year high of $25.13.

About Grindr

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.

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